Syria to start new banking rules to promote exports

Governor of the Central Bank of Syria announced on Wednesday a bulk of decisions to be issued soon to boost the banking industry and economic reform.

"The Central Bank of Syria is going to finance part of exports in order to meet dollar demands reaching about $ 3 billion, mainly those related to exports that generate dollars, such as raw materials," Governor of the Central Bank, Adib Mayaleh, said today.

He underlined cohesion between the business sector and Syria's Central Bank as being essential for currency stability and business prosperity.

Minister of Economy, Amer Hosni Lutfi, called in a joint meeting for all economic sectors and the civil society to participate with the government in order "to improve the Syrian economy and match the needed reform change to an open and integrated economy with the international economy."

He stressed the importance of adopting international standards for the Syrian products so as to be internationaly competitive "as well as meet the challenges of the liberated trade and the Syrian-EU partnership requirements."