The Central Bank Denies News of Establishing New Banks in Syria
August 11, 202551 ViewsRead Time: 2 minutes
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The Central Bank of Syria denied today, Monday, circulating news regarding the establishment of new banks, indicating that no licenses have been issued for any new bank.
In a statement via Telegram, the bank said: "Referring to the circulating news regarding the establishment of private banks, and clarifying what is necessary regarding this matter, the Central Bank of Syria states that no licenses have been issued for any new bank in Syria."
According to the bank, several Arab and foreign banks have expressed interest in entering the Syrian banking market to benefit from significant investment opportunities related to reconstruction and new investment projects.
It added in its statement: "While welcoming any request to establish a private bank, it conducts the necessary studies for the requirements of licensing new banks according to the provisions of Law No. 28 of 2001 and its amendments, international standards, and the needs of the Syrian economy to contribute to reconstruction and the development and growth of the banking sector in Syria."
In a statement via Telegram, the bank said: "Referring to the circulating news regarding the establishment of private banks, and clarifying what is necessary regarding this matter, the Central Bank of Syria states that no licenses have been issued for any new bank in Syria."
According to the bank, several Arab and foreign banks have expressed interest in entering the Syrian banking market to benefit from significant investment opportunities related to reconstruction and new investment projects.
It added in its statement: "While welcoming any request to establish a private bank, it conducts the necessary studies for the requirements of licensing new banks according to the provisions of Law No. 28 of 2001 and its amendments, international standards, and the needs of the Syrian economy to contribute to reconstruction and the development and growth of the banking sector in Syria."
It also noted that the licensing of any bank is subject to procedures and the announcement of licensing and registration decisions in the banks' registry at the Central Bank of Syria, warning against any misleading or false advertisements regarding the establishment or licensing of new banks.
