Dr. Hussein Al-Fahl, a lecturer on economic and international relations at the University of Damascus, stated that despite their late implementation, new monetary and financial policies of the Syrian government are in line with the local, regional and global economic shifts, reported Al-Bayan newspaper.
Al-Fahl added that until now, Syrian banks had never executed transactions such as trading foreign currencies or issuing letters of credit. As a result, these institutions were deprived of an estimated $250 million in commissions. —(MENA Report)
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