VOL. XLVI

No 18

05-May-2003

SYRIA

Syria To License Three Foreign Banks

Syria has granted three foreign banks final approvals to set up operations in the country. The cabinet is licensing Lebanons BLOM bank (in partnership with the World Banks private sector financing arm, the International Finance Corporation), Lebanons BEMO bank (with participation from Saudi Arabias Al-Bank Al-Saudi Al-Fransi) and Jordans Housing Bank. In the announcement on 29 April Economy Minister Ghassan al-Rifa'i said the...