Syria opens up for founding private banks

The Syrian central bank in Damascus has started to receive applications submitted for founding private and joint banks. The number of submitted applications during the first two days of licensing these banks reached 8.

On Sunday, the Syrian Arabic daily Tehsreen quoted sources of the central bank that the first application submitted on Saturday came from the Jordanian "Housing Bank for commerce and finance" and share-holders from the Syrian private sector.

They are "the Syrian- Libyan company for industrial and agricultural investments," and the "Kuwaiti united company for investment."