17 Hrs
Source:
سيريانيوز
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Syrian Central Bank Introduces New Banking Standards
Syria's Central Bank Governor, Mohamed Saftou Rouslan, revealed the implementation of new standards for licensing both Islamic and conventional banks. These standards include allowing foreign investors to hold up to 60% of the bank’s capital, with guarantees for profit transfers and the easing of restrictions on foreign exchange operations. The new regulations also stipulate the necessity of having experienced and financially sound partners, as well as a strategic banking partner owning at least 10% of the bank’s capital. These measures are part of an effort to reconnect the Syrian banking sector with the global financial system, equipped with electronic oversight tools, connectivity with the SWIFT network, and a move towards using Arab currencies linked to the dollar to facilitate trade, reduce inflation, and encourage the flow of funds within the Syrian market. Additionally, discussions were held about increasing Jordanian banks’ investments in Syria to enhance financing and investment activities.
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