Middle East Economic Survey

VOL. XLVII

No 28

12-July-2004

LEBANON/SYRIA

REGIONAL BANKING

Banque Audi Wins Preliminary Approval To Set Up Private Bank In Syria

The Syrian cabinet has given its preliminary approval on 6 July to Lebanons Banque Audi to establish a joint venture private bank in Syria Banque Audi-Syrie. Final approval and the issue of a license by the Syrian government are expected in about two to three months after the Central Bank of Syria completes the necessary formalities....