Syria has amended the law on the establishment of banks with the participation of foreigners who had previously been allowed to own up to 49 percent of capital. Based on the amendments, the share of foreign capital in the banks increased up to 60 percent
Under the amendments approved by the Syrian Cabinet of Ministers last week, the Turkish businessmen who have commercial relations with Syria will be able to provide a guarantee letter for the implementation of monetary transactions, the Anatolian agency reported.
The amendments will enter into force after they are signed by President Bashar al-Assad.