The National Bank of Kuwait (NBKK.KW) has been granted a licence to operate in Syria, an official Syrian statement said on Tuesday, making it the sixth Gulf bank to enter the nascent market.
The government also granted a licence to Isbank (ISCTR.IS), Turkey's largest bank, to open a representative office, the statement said.
The state relinquished its monopoly on the banking sector eight years ago, and 14 privately owned banks -- all subsidiaries of Arab banks -- now operate in the country of 20 million people.
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