Syria says to allow investment banks, Syria Financial Services, Banking & Investment - Maktoob Business

Syria said it would allow investments banks to do business in the country, as the government extends its liberalisaton of the financial sector.

The official news agency said the government had set 20 billion Syrian pounds ($429 million) as the minimum capital at which investment banks could open and would allow the transfer of profits from operations abroad for foreign shareholders and Syrian expatriates.

Egyptian investment bank EFG-Hermes said earlier this year it planned to set up an operation in Syria, which needs tens of billions of dollars to repair its crumbling infrastructure.