In accordance with the recent warming of Palestinian-Syrian relations, the Bank of Palestine recently submitted an application to the Syrian Ministry of Economy and Foreign Commerce to open a branch in Damascus, reported Al-Sahrq Al-Awsat daily.
The Bank of Palestine will open its new branch within the framework of the recent banking reforms in Syria, permitting the establishment of private and mixed ownership banks. The policy change aims to attract badly-needed Arab and foreign capital into Syria.
Speaking at a recent Syrian trade fair, Al-Din Radhwan, a bank senior executive, said that he expected all technical measures towards the branch’s establishment to be initiated within short period of time. — (Mena Report)
© 2001 Mena Report (www.menareport.com)
