Syrian prime minister supports establishing foreign banks
Syria, Economics, 6/23/2000

Syrian Prime Minister Mohammed Mostafa Miro expressed support for establishing foreign banks inside free zones in Syria.

He added that he presented his proposal to the 9th regional conference for the Baath party which opened its works last Saturday and spoke of the necessity to develop the banking sector. He described the matter as urgent and could not be delayed, referring to opening Arab and foreign banks in the free zones and allowing establishing joint banks Syrian - Arabian or Syrian - foreign banks.

He added that this must take place side by side with developing the banking sector, improving its efficiency and developing Syria's central bank as the currency authority as well as reviving the role of loans and the currency council.

Foreign banks will be allowed in the free zones surrounding the large Syrian cities so that foreign investors can freely handle their funds in foreign currencies and to easily make financial transfers abroad.

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