Microfinance in Syria

Microfinance in Syria still at the stage of evolution and to engage in a market where no more than 10 years old which is in its infancy and did not reach the stage of maturity yet.

The sources indicated that the coverage of microfinance to the need of the market amounted to 9% as indicated by a study before the start of the crisis and indicated a strong need in the Syrian market for this type of financing is estimated at about 91% at least, and therefore constitute an attraction important for many institutions working in this area .

Microfinance in Syria

The sources revealed, according to the "homeland" local, that many of the new institutions have taken more than a step to enter this promising market and obtained the necessary approval from the "central bank" but under the current circumstances froze the rest of the steps.

It also pointed out that the coverage of microfinance to the need of the market fell as clearly below the level of 9%, but this did not prevent the renewal of some of the old loans to customers who have committed themselves to paying in accordance with the deadlines associated with this type of small loan.

Attributed the shrinking small loans for two reasons: The first is the non-renewal of each building on the desire of the customer to its inability to meet the terms of the loan and the second is linked to the inability of some institutions to refinance the same volume of customers in the light of the prevailing economic conditions and the high degree of risk.

The sources ruled out the possibility of exit of any of the four institutions working in the field of microfinance market, especially the market is still virgin and the interest of these institutions to maintain itself in the market, which will have a big advantage when you return to stability and the economic wheel to normal.

She explained that in spite of the fact that microfinance in syria semi-frozen but adapted primarily in natural working conditions to work in difficult conditions to qualify to take the role in the return of relative stability to the economy.

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