No. 15



Syrias Parliament Approves Law To Allow Private Banks In The Local Market

The Syrian parliament on 29 March approved a law to allow the establishment of private sector banks. According to the law, any private sector bank must have a minimum capital of SL1.5bn ($30mn) and operate under the supervision of the Central Bank of Syria (CBS). According to local press sources, Khalid Ra'd, Deputy Prime Minister for Economic Affairs, said that as many as 50 foreign...