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Banking Reform and Bank Restructuring

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Banking Reform and Bank Restructuring

December 2002

Written by : Nabil Sukkar

During the past two years, Syria enacted three banking legislations, the first involved allowing the establishment of private banks, the second guaranteed banking secrecy, and the third amended the 1954 Money and Central Bank Law. These new banking laws are the first steps towards building an afficient and modern banking system in Syria and preparing the ground for introducting monetary policy into the Syrian economy. But Syria still has to cope with the various aspects of implementing the new laws, as well with the problem of rehabilitating/restructuring its ewisting public banks, and upgrading the capacity of its central banking institutions. 

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