VOL. XLVII

No 02

12-January-2004

REGIONAL BANKING

SYRIA

First Private Banks In Syria Open Their Doors For Business

Bank of Syria and Overseas (Banque de Syrie et dOutre Mer BSOM) became the first private bank in Syria to open its doors in the country for 40 years when it was inaugurated by the Syrian Finance Minister Muhammad al-Husain on 7 January. The opening marks a significant step in the countrys economic development and comes as the result of a banking law passed in 2001 part of the reform...