Middle East Economic Survey
VOL. LIII
No 3
18-Jan-2010
syria
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...
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