ANNOUNCEMENT 01 Oct 2009

Since October 2009, the Syrian government has re-regulated foreign engagement in the Syrian banking sector.

NUMBER OF INTERVENTIONS

2

  • 1 harmful
  • 0 neutral
  • 1 liberalising

SOURCE



Economist Intelligence Unit. (16 February 2010). Regulatory watch: Syria.

MEES Report. (1 February 2010). The Syrian Banking And Finance Sector. Available at http://www.zawya.com/Story.cfm/sidv53n05-3NC27/The%20Syrian%20Banking%20And%20Finance%20Sector/

UNCTAD Investment Policy Brief, A Report by UNCTAD Secretariat, 20 April 2010.


Inception date: 01 Oct 2009 | Removal date: open ended

FDI: Entry and ownership rule

In a first step in October 2009, the government raised minimum capital requirements for foreign banks to USD 200 million for conventional banks (up from USD 30 million), and to USD 300 million for Islamic banks (up from USD 100 million).

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
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Inception date: 01 Oct 2009 | Removal date: open ended

FDI: Entry and ownership rule

In a further step on 4 January 2010, the Syrian President signed Law 3 of 2010 raising foreign ownership ceilings in the banking industry.
 
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