Live View From Damascus Guests Chat
Syria On The Internet
Latest News From Syria
Monetary Situation in Syria Good, Arab Banks Union Says
Writer/Source: Sana (4/5/2011)
Click To Rate
Chairman of the Union of Arab Banks Adnan Yousif on Tuesday said "monetary situation in Syria is good and the Syrian banks are strong enough to overcome the current stage as the Syrian Pound hasnt been affected by the recent events."

In a statement to Reuters, Yousif, who also the Chief Executive of the Bahraini al-Baraka Islamic Bank operating in Syria, said "we have noticed there have been some SYP withdrawals which were converted into USD but they didnt exceed 7% or 8 %," noting that that the money didn't leave the country.

He added that the Central Bank of Syria pumped more liquidity into the Syrian market and it was a wise move.

Yousif said that he reviewed the situation with the Syrian banks today, affirming that the withdrawals have stopped and the deposits didnt change, reiterating that "Syrian banks are in good situation."

"The slight slump of the Syrian Pound was less than 10%. It might be considered a mere fluctuation," he added, indicating that the recent events haven't had that much impact.

Al-Baraka Bank plans to open 5 branches in Syria in the next two days. The branches will be in Homs, Aleppo and Hama.
Topics, articles and comments published in the Electronic Magazine
do not necessarily represent the views of Souria.coms management
Comments / 0
No comments on this Article, Send Your Comment
Bookmark This Page Arabic KeyboardWrite in Arabic Email Page Email This PageHelp!Help!This Page in Arabic
Electronic Magazine | Electronic Maps | Travel & Tourism | Souriaty Club | Chat Center | Discussion Rooms | News & Articles | Jokes
Website Info | Site Map | Advertise Here | Disclaimer | Comments | Report an Error | Contact Us | الموقع بالعربية
All Rights Reserved