Saturday, May 28, 2011

New financial measures in Syria

The Central Bank of Syria has decided to raise the rate of credit interest, paid by the banks for deposits, by two percentage points from 7 per cent to 9 per cent. In addition, it allowed banks operating in the domestic market to deal with foreign currencies; banks are now able to sell to Syrian clients foreign currencies, such as Euro and Dollar. However, this sale is limited to 120 thousand dollars per client.

Syrians are being encouraged by Central Bank to keep their savings in foreign currency inside Syria
� 2011 Al Bawaba (www.albawaba.com)

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Source: http://www1.albawaba.com/main-headlines/new-financial-measures-syria

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