Middle East Economic Survey


No 12



Byblos Bank Licensed To Operate In Syria

The Syrian cabinet on 9 March approved a proposal from the Central Bank of Syria to issue a license to Lebanons Byblos Bank to open a private bank in Syria, to be headquartered in Damascus. The new bank, Byblos Bank-Syria, will be owned 51% by Syrian interests, in line with the 2001 banking law which regulates the establishment of private banks there. Byblos Bank-Syria will be the fourth bank,...