Syrian market is promising: private bank director

"The Syrian market is promising and the economic diversity in Syria gives new horizons to the banking industry," Director General of the International Bank for Trade and Finance in Damascus Sultan al-Zubi said Sunday.

"The bank, having convinced by the Syrian economy and its promising and positive indications, will embark a strategic plan to open new branches in different Syrian cities," he told SANA.

He added that the International Bank for Trade and Finance, in addition to its headquarters, will open three new branches in Damascus during the current year, and it is ready to open a new branch in Aleppo on Wednesday, another in Homs next month and a third in Tartous in September.

Zubi underlined the importance of the Syrian government's new procedures on the banking level, saying it had issued a number of laws and decisions that could improve and develop the banking system in Syria.