VOL. XLIV

No. 05

29-January-2001

SYRIA

Syria Approves Banking Amendments And Ends Artificial Exchange Rates

On 20 January Syria officially approved the establishment of private sector banking and ended its artificial exchange rates to reduce government control of the economy. Under the banking law, according to the state-run daily Tishrin, the new banks can establish private joint stock companies or partnerships between the government and the private sector. Syrian investors, however, are...