VOL. XLV

No 11

18-March-2002

SYRIA

Commercial Bank Of Syrias Head UnderInvestigation OverFinancial Losses

The director of Syriaslargest bank, the Commercial Bank of Syria (CBS) MahmudNadim Mitqal is underinvestigation by an economic security court over financial losses of $5mnincurred through a bank transfer to an unidentified foreign bank, according toa report in the Tishrinnewspaper of 11 March. According to thereport, Mr Mitqal made thetransfer even though he knew that the other bank was in a...