Middle East Economic Survey


No 3



Syria Hikes Permitted Foreign Ownership Of Banks

The Syrian government has hiked the foreign ownership threshold of its banks to 60% from the previous 49%. Law number three of 2010, issued by President Bashar al-Asad noted, however, that for ownership to exceed 49% it would need a resolution of the Council of Ministers, and the largest share must be held by a high caliber banking institution. Under the same law, the minimum capital for...