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2 clusters · 7 sources · 5 days · First seen · Last updated
Syrian financial sector reform and reconstruction
Overview
International stakeholders and Syrian authorities have initiated efforts to reform and reconstruct Syria’s financial sector. A high-level roundtable hosted by the Qatar Fund for Development and the Islamic Development Bank at the United Nations focused on coordinating international support for economic recovery. The discussions centered on a roadmap for institutional reform, banking sector restructuring, and the reintegration of Syria into the international financial system.
Following these coordination efforts, the Central Bank of Syria announced expectations for over $1 billion in foreign capital inflows to establish new banks. The Central Bank aims to increase the number of operating banks to between 30 and 35 by 2030. To facilitate this, new regulations allow foreign investors to retain 60% of paid-up capital in foreign currency and transfer profits abroad, provided they meet specific experience and solvency requirements.
Entities
Central Bank of Syria · Qatar Fund for Development · United Nations · Mohammad Safwat Raslan · Syrian Ministry of Finance
Timeline
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[BUSINESS] 4 sourcesSyria expects over $1 billion in foreign investment for new banks
The Central Bank of Syria anticipates over $1 billion in foreign investment to establish new banks, aiming to expand the sector to 35 institutions by 2030 and facilitate secure foreign currency transfers.
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[BUSINESS] 3 sourcesQatar Fund and Islamic Development Bank host meeting on Syria financial reform
The Qatar Fund for Development and the Islamic Development Bank hosted a high-level meeting in New York to coordinate international support for reforming Syria’s financial sector and economic recovery.
Sources
alaraby.co.uk · alborsaanews.com · alsaudi.news · b2b-sy.com · marsalqatar.qa · okazalyoum.com · sana.sy