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Syria
to Open Islamic Banks
Washington DC,
September 22, 2004 /RPS News/
-- In a bid to attract foreign investments, Syrian authorities are
allowing Islamic banks to open and a long list of banks from Kuwait, Saudi
Arabia, UAE, and Qatar are vying for a license.
According to
Islamonline.net,
the Qatar International Islamic Bank (QIIB) tops the list with an expected
capital of $200 million. It will open a branch under the name of the "Syria
International Islamic Bank".
“The first Islamic
bank in Syria will be established in the near future,” Director General
Abdel Basit Ahmad Al-Shibi of the QIIB has told the state-run Al-Thawra
newspaper.
Kuwaiti and Syrian
investors are also working closely with the Syrian State to launch a joint
Islamic bank with an expected capital of $158 million.
Additionally, the
Islamic Development Bank and a group of investors from the United Arab
Emirates and Saudi Arabia have also bid for bank licenses.
Reform
Party of Syria |
