Under the patronage of President Bashar al-Assad, the 1st Micro Finance National Conference organized by the State Planning Commission kicked off on Saturday November 10, 2007 at the OmayadConferencePalace. Click more…
Under the patronage of President Bashar al-Assad, the 1st Micro Finance National Conference organized by the State Planning Commission kicked off on Saturday November 10, 2007 at the OmayadConferencePalace.
Minister of Finance, Dr. Mohammed al-Hussein, affirmed importance of the conference which underlines the role of limited financing in developing local communities, stressing the importance of banks, local business organizations and international organizations in supporting limited financing companies.
Dr. al-Hussein stated that Syria is one of the foremost countries in the region to show interest in limited financing by issuing legislation and licensing several organizations to provide limited financing to Syrian citizens. He also pointed out to the achievements in developing the economic sector in Syria, adding that the limited financing strategy suits the reality of developing countries.
Minister of Finance said that the conference coincides with significant economic circumstances in Syria as the Syrian economy starts to work according to the social market principles. He underlined the government's policy of providing new job opportunities in the public and private sectors, in addition to encouraging Arab and foreign investment and providing financing to the Employment Commission.
For his part, President of the State Planning Commission, Dr. Tayseer al-Radawi stressed the importance of limited financing in revitalizing economic and social developments, creating new projects and reducing unemployment. He added that the 10th five-year plan included the principal bases for a limited financing national strategy.
Governor of Syrian Central Bank, Dr. Adib Mayala, affirmed that Syria has started implementing economic policies for regulating medium, small, micro and family projects as part of the government's economic reform plan, because these projects play an important role in sustainable economic, industrial and social development.
Dr. Mayala also discussed the role of the banking sector as a principal motivator of economic growth, in addition to the Syrian Central Bank's strategies for preserving the stability of national currency, expanding the banking sector and improving financial services.
Zavier Reille of the Consultative Group to Assist the Poor (CGAP) discussed the conference's role in identifying the steps taken by the Syrian government in the field of limited financing. He stressed the importance of limited financing in developing countries, pointing out to other countries' experiments in that field and their important results.
The conference was attended by Minister of Economy and Trade, Dr. Amer Hosny Lutfi, Minister of Social Affairs and Labor, Dr. Dialla Haj Aref, Deputy Foreign Minister, Dr. Faisal al-Miqdad, governors of Damascus and Damascus Countryside, and the Chairman of the Syrian Chambers of Commerce Union, in addition to representatives of companies, banks, organizations, limited financing companies and journalists.
