President al-Assad issues a law amending an article of the law on microfinance banks to achieve greater support for small projects

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President al-Assad issues a law amending an article of the law on microfinance banks to achieve greater support for small projects

President Bashar al-Assad issued Law 18 in 2024, and the judge amended Matter 16 of Law 8 in 2021, bringing in the amendments to the new law, exempting microfinance banks from income tax on their entire business, and from fees on any deals or transactions they conduct with customers. The new amendment also exempts investors financed by the provisions of Law 8 from income tax on the proceeds of transactions of these banks, and from fees on all de…