Over billion dollars for new Syrian banks

The Governor of the Central Bank of SyriaExpected that the volume of foreign capital allocated for establishing new banks in Syria will exceed one billion dollars in the upcoming period, with the bank working to attract investments and strengthen official channels for financial transfers. He explained that the process of issuing banking licenses typically takes 3 to 4 months, provided all documents and requirements are met. Foreign investors are allowed to retain up to 60% of their capital in foreign currencies and to freely transfer profits. The Central Bank also aims to develop supervision tools and regulate channels for financial transfers, focusing on improving the trade settlement system using Arab currencies linked to the dollar, and reducing reliance on intermediaries to enhance price stability and economic activity.

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