Islamic banks open in Syria during 2006
Syria, Economics, 1/27/2006

Syria's Deputy Prime Minister for Economic Affairs Abdullah Al-Dardari said Thursday the current year will witness the opening of several Islamic banks in Syria for the first time.

Syrian President Bashar Al-Assad had issued a decree to grant licenses for Arab banks and financial institutes to establish Islamic banks in the country, with a capital of 100 million US dollars.

Al-Dardari said in statements to the press, that the Islamic banks had started paper work for obtaining the licenses and presenting all applications to the Syrian government.

He added, the Syrian market is ready for such developed activities, and added that the banking sector in Syria will participate in developing the public monetary sector, to enable it to develop and finance trade and investments in the country.

The Syrian government had permitted the opening of commercial banks in 2002, within the framework of the economic reform program in the country.

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  People's Assembly briefed on economic, financial situation   (12/8/2005)
  Al-Assad presides over economic team meeting on currency stability   (12/7/2005)
  Syria promises banking efficiency for customers   (12/5/2005)
  Syria licenses Islamic banks   (3/30/2005)
  First Islamic bank set to open in Britain   (8/11/2004)
  Kuwait hosts first Islamic banks exhibition next October   (1/15/2002)

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