Syria

The Europe, Middle East, & Africa awards research cycle has now begun – don’t miss out on this opportunity to be recognised
Shariah-compliant regulatory capital issuances from banks in the GCC are becoming more prevalent. But several challenges lie in wait in the drive to create shariah-compliant bank capital structures
IFLR is pleased to release the in-house shortlists, as well as winners of the individual accolades, for the 2013 Middle East and North Africa awards
Heightened activity by EU sanction authorities has pushed the regimes higher on banks’ compliance agenda. But there is a lack of clarity on key provisions
Within the endeavours of creating an inclusive financial sector, Syria issued its first Microfinance Law in February 2007, the first of its kind in the MENA region allowing deposits.
The Syrian Government has issued Law 56 allowing for the establishment of investment banks in Syria by mid-2010. The enactment of this law is in line with the need for financing large investment projects and filling in the financing gap for infrastructure projects.
Despite the fact that a clear definition of a security agent does not exist under Syrian legislation, the legal concept can be found in public laws and applicable banking regulations.
Syria's relatively new Company Law 3 of 2008 was replaced in February 2011 with Legislative Decree 29/2011. When the previous text was passed in 2008, it replaced a 59-year old bill, the Commerce Law of 1949. The new Legislative decree 29/2011 introduces new forms of companies and provides for more simplified procedures.
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