Syrian Parliament to Amend, Enact Economic Laws
By Nabil Al Mulhem
Syria’s government put forward on Monday before the People’s Assembly a package of economic laws to be modified, in addition to new bills, all designed to loosen the government’s grip on the national economy.
According to Abdul Wahhab Rashwani, member of the assembly, the most remarkable of the draft laws is the one related to private banking, which, if endorsed, will limit the state’s monopoly in the sector.
Earlier, Prime Minister Mohammad Mustapha Miro told reporters that his government had licensed Lebanese banks to operate in Syria. The premier had also met with the regional director of the Arab Bank.
Last month Syria permitted foreign banks to open branches in the country’s free zones.
Rashwani told Albawaba.com that the parliament will debate the draft law on the planned Damascus stock market, where the private sector will be allowed to trade shares. The proposed law has aroused controversy among the concerned parties over its feasibility.
A bill on agricultural land ownership is expected to entitle land owners to a larger share of land, according to the MP.
Also open for discussion was the real estate rent law, whereby representatives were expected to modify the law to make rent contracts paragraphed according to what both parties involved agree on – Albawaba.com
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