Damascus - SANA

The Agricultural Cooperative Bank issued a number of circulars specifying the mechanism for marketing wheat and disbursing its value to farmers, according to which it allowed the withdrawal of 50 million liras from the values of wheat delivered to each cooperative member.

According to the circulars, the bank explained that a current account is opened for each cooperative member of the agricultural association, whose bill of wheat price exceeds 50 million Syrian pounds, so that this amount is disbursed to him and the rest is deposited in his current account, and the farmer has the right to transfer these amounts deposited in his account or withdraw them according to the ceiling of the daily withdrawal amounts specified by the Central Bank of Syria.

The bank asked farmers and agricultural associations to open the aforementioned current accounts before starting the disbursement of the values of the crops in order to avoid any congestion in the branch during the disbursement of the value of wheat and with the aim of providing all facilities when opening current accounts for customers with the bank.

The bank confirmed that its branches, when ensuring that the appropriations allocated for the disbursement of the values of agricultural crops reach their accounts, must expedite the disbursement of the values of the crops within a period not exceeding 48 hours, and that the delivery is to the owner of the entitlement personally or under a legal agency, while the cooperative members are delivered to a committee in their agricultural associations and collect the debts due to the bank when disbursing the values of the crops.

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