VOL. XLIII

No. 42

16-OCTOBER-2000

SYRIA

BLOM To Open Damascus Branch After Syria Introduces New Banking Initiatives

Beirut-based Banque du Liban et dOutre Mer Sal (BLOM) has announced that it will open a branch in the Damascus free zone, having been granted an operating license on 9 October. In accordance with the law governing the opening of foreign banks in Syrias free zones, BLOM has allocated $10mn in capital for the new branch. Currently, banks have up to one year to start their activities...