DOCSLIB.ORG

English Khaled Sammani NA the Art of Chocolate Riad Kurdy NA Kurdy Pharma Glass George Salme NA Salme & Co

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
English Khaled Sammani NA the Art of Chocolate Riad Kurdy NA Kurdy Pharma Glass George Salme NA Salme & Co Facility for Euro-Mediterranean Investment and Partnership • Facility for Euro-Mediterranean Investment and Partnership FEMIP Feasibility Study to develop new options for private sector investment financing in the Syrian Arab Republic Final Report Feasibility Study to develop new options for private sector investment financing in the Syrian Arab Republic EIB Final Report October 2005 - March 2006 Prepared by: Richard Crayne Bruce Harrison Rauf Khalaf Edward Owen With contributions from: Fatma Dirkes, Senior Project Manager, BAI Willemien Libois, Project Manager, BAI Raed Karawani, Legal Consultant Fahed El-Mohamad, Local Expert Bankakademie Damascus Office Bankakademie International Malki, Abdel Mounem Riad Street Sonnemannstr. 9-11 Kouatly Building No. 5 60314 Frankfurt am Main Damascus Germany Syria Phone: +49-69-154008-619 Tel: +693-11-3716332 Fax: +49-69-154008-670 Final Report With further contributions from: Syrian Government: Dr. Abdullah Dardari Deputy Prime Minister, Economic Prime Minister's Office Affairs Nabil Barakat Deputy Head Prime Minister Office SPC Nader Al-Sheikh Ali Director General of International Prime Minister Office SPC Cooperation Marwin Attar Consultant Prime Minister Office SPC Dr. Ghassen Al Habash Deputy Minister Ministry of Economy & Trade Dr. Amir Al Attar Director, Banking Affairs & Insurance Ministry of Economy & Trade Abd Al Razak Abd Al Maged Director, Interior Commerce Ministry of Economy & Trade Ibrahim Ibrahim Manager, Companies Registration Ministry of Economy & Trade Dr. Mohammad Al-Hussein Minister Ministry of Finance Dr. Mohammed Hamandoush Deputy Minister, Public Expenditure Ministry of Finance, CMC1 Mrs. Basmah Hafez Manager Banks & Insurance Ministry of Finance Farouk Ayash Senior Banking Advisor Ministry of Finance Marouf Al Hafez Public Debt Fund Ministry of Finance Omar Al Elabi Public Enterprises Ministry of Finance Nizar Shurbaje Department Revenue Ministry of Finance Mohee Deen Habeeb Treasury Ministry of Finance Jamal Medelgi Income Tax Ministry of Finance Dr. Mohamed Ghassan Minister Ministry of Industry Thayara Fouad Al-Lahham Deputy Minister Ministry of Industry Dr. Diala Alhaj Aref Minister Ministry of Social Affairs & Labour Dr. Issa Maldaon Deputy Minister Ministry of Social Affairs & Labour Central Bank of Syria Dr. Adib Mayaleh Governor Central Bank of Syria Dr. George Elouzon Manager Foreign Division Central Bank of Syria Dr. Erfan S. Al Azmeh Economic Advisor, Member CMC Central Bank of Syria Dr. Hichan Mutewalli Member, CMC Central Bank of Syria Public Banks Mr. Faysal Kassem Chairman and GM Agricultural Bank Mr. Maan Zeid Mirza Deputy GM Agricultural Bank Mr. Zedan Sa’adat Credit and Loans Manager Agricultural Bank Ms. Seham Mallouh Planning Manager Agricultural Bank Mr. Ahmad Kolaeb Studies Department Agricultural Bank Mr. Saed Shana’a Accounting Department Agricultural Bank Mr. Fayzeh Wanous Translation Agricultural Bank 1 Credit and Monetary Council, Central Bank Feasibility study to develop new options for private Contacts sector investment financing in the Syrian Arab Republic Page i Final Report Dr. Douraid Dergham Chairman and GM Commercial Bank Ms. Raghdaa Al Yaffee, Credit Manager Commercial Bank Ms. Suher al Halabi Manager of Planning Department Commercial Bank Ahmad Diab NA Commercial Bank Mr Salah Shehab NA Commercial Bank Dr. Ali Kanaan Chairman and GM Industrial Bank Dr. Khaled Al Zamel Manager of Studies Industrial Bank Mr. Adnan Al Okleh Legal Department Manager Industrial Bank Ms. Abeer Sakbani Technical Manager Industrial Bank Mr. Nuhad Haydar Deputy GM-credit Industrial Bank Mr. Shehadeh Othman Deputy Accounting Manager Industrial Bank Ms. Sawsan Barzawi Deputy Planning Manager Industrial Bank Dr. Ibrahim Al Falah Administration Officer Industrial Bank Mr. Motee Shalabi Administration Officer Industrial Bank Ms. Hayfaa Al Assadi Administration Officer Industrial Bank Dr. Abdulrazzak Hasani Chairman and GM Popular Credit Bank Mr. Husain Abdul Wahab Deputy GM Popular Credit Bank Ms. Wafaa Nakhleh Legal and Administration Manager Popular Credit Bank Mr. Adnan Hassan Accounting Manager Popular Credit Bank Mr. Sharif Abbddo Credit and Loans Deputy Manager Popular Credit Bank Dr. Moulham Dibo Chairman and GM Real Estate Bank Mr. Akram Darwish Credit Manager Real Estate Bank Mr. Anas Fayomi Legal Department Manager Real Estate Bank Ms. Nada Nabilsi Financial Manager Real Estate Bank Ms. Haifaa Younes Chairman and GM Savings Bank Mr. Hussain Al Oudeh Credit and Loan Manager Savings Bank Ms. Layla Attar Financial Manager Savings Bank Private Banks2 Mohamad Haykal Deputy GM Arab Bank, Syria Bassel Hamwi Deputy Chairman & GM Bank Audi Syria Mr. Antoine G. Wl-Zyr, Deputy General Manager Bank Audi Syria Mr. Mahmoud Al Kurdy Chief Financial Officer Bank Audi Syria Ms. Zeina El Mohamad Finance and Accounting Department Bank Audi Syria Dr. Rateb Shallah Chairman Bank of Syria & Overseas George Sayegh GM Bank of Syria & Overseas Mr. Jamil Choucair Credit and Loan Manager Bank of Syria & Overseas Ms. Hanadi Ayoubi NA Bank of Syria & Overseas Pierre Ducos GM BEMO Nada Saliba Head of Credit Department BEMO Noureddine Maamar Branch Manager, Damascus BEMO Walid M. Abdel Nour Deputy General Manager BYBLOS Bank Jean V. Bassil Assistant General Manager BYBLOS Bank Didier Drullion Directeur Général, Issoria Groupe Caisse d’Epargne Sultan Alzu’bi GM Int. Bank for Trade & Finance Mr. Aiham Mannaa Credit Officer Int. Bank for Trade & Finance Ms. Rima Malek Credit Officer Int. Bank for Trade & Finance 2 Of the banks the Minister invited to the 25 January 2006 Interim Report Presentation, and surveyed by the Team, only Banque Bemo Saudi Fransi, was not represented. Feasibility study to develop new options for private Contacts sector investment financing in the Syrian Arab Republic Page ii Final Report Other Finance Institutes Dr. Bian Harb General Director ACU Ms. Huda AL Masri Financial Manager ACU Mr. Ahmad Shibib Assistant Financial Manager ACU Maysa Salman Responsible Internat. Cooperation ACU Khalil Hosny Khalil Community Development Officer ACU Embassies and Donor Officials (including projects) Aleem Walji, Executive Director Aga Khan Foundation Nasser B. Al-Kahtani, Executive Director AGFUND Riyadh, Saudi Arabia Jebrin A. Akjebrin, Director, Projects AGFUND, Riyadh, Saudi Arabia Philippe Mongars Chief de Service AMF Banque de France Susan Khan Capital Market Expert AMF Consultant Ulrich Bindseil Deputy Head of Division AMF European Central Bank Mohamed El-Hadj Chief of Mission, Abu Dhabi, UAE Arab Monetary Fund (AMF) Yisr M. Barnieh Economist, Abu Dhabi, UAE Arab Monetary Fund (AMF) Peter Bandilla Loan Officer, Syria EIB, Luxembourg, LU Brain Jenkins Short-Term Consultant EIB/SME Project Bob Leigh Team Leader EIB/SME Project James Mair SME Finance Expert EIB/SME Project Seifeldin Usher Head, Trade & Investment Embassy UK Maysa Mustafa Officer, Trade & Investment Embassy UK Sylvie Sturel Head, French Economic Mission Embassy France Roland Seeger Economic Attaché Embassy Germany Dr. Michael Grewe Regional Development Policy Embassy Germany (German Federal Ministry for Economic Cooperation) Damino Francovigh Economic Attaché, First Secretary Embassy Italy Miguel Iriso Economic Attaché Embassy Spain Jose Navarro Cooperation Attaché Embassy Spain (Spanish Cooperation Agency) Ferit Orcun Basaran Economic Attaché Embassy Turkey Todd Holmstrom Attaché Embassy United States Mr. A.M. Fontana Head Economic Section EU Delegation, Syria Fabrice Ferrandes NA, Economic & Trade EU Delegation, Syria Arto Valjas NA, Private Sector Development & EU Delegation, Syria Finance Vassilis Petrides Project Coordinator EU Delegation, Syria Dr. Constantin Zaman Team Leader EU Institutional & Sector Modernisation Facility Heiko Gross Institutional Development Expert EU Institutional & Sector Modernisation Facility Henk Verbrugge Municipal Finance Expert EU MAM Project Ms Joumana Jabbour Commercial Lawyer, Consultant EU MAM Project Jane Tait Tax Expert, Team Leader EU Modernisation of the Ministry of Finance Peter Wagner Treasury, Expert, Budget & EU Modernisation of the Accounting Ministry of Finance Manfred Rientz Team Leader EU BSSP II Ali Sabet Senior Training Expert EU BSSP II Brian Kettell Central Bank Consultant EU BSSP II Feasibility study to develop new options for private Contacts sector investment financing in the Syrian Arab Republic Page iii Final Report Mouayed Makhlouf Senior Investment Officer IFC Murat Sultanov Leasing Legal Advisor IFC Ola Nour Leasing Specialist IFC (PEP) Kamila Makhudova Leasing Specialist IFC Mark Ahern Public Expenditure Management IMF, Middle East Technical Advisor Assistance Centre (METAC) Richard Allen Deputy Division Chef IMF, Fiscal Affaires Public Financial Management II Department Adbelaki Tazi Senior Economist IMF, Fiscal Affaires Department Patrick Mordacq Cour des Comptes IMF, Consultant, Public Finance Daniel Tonnasi Consultant IMF, Public Finance Olivier Benon Senior Economist IMF, Fiscal Affaires Department Kazuhide Nagasawa Resident Representative JICA Shigeru Otake Deputy Res. Rep. JICA Masahiro Yamashita State Planning Advisor JICA Sakher Mrishih Economic Officer JICA Dr. Jürgen Welschof Division Chief Middle East KfW Dr. Mohamad Kayyal Local Expert KfW John Paton Director SEBC George Catinis Aleppo Director SEBC Noha Chuck National Team Leader SEBC Roberto Rodrigueuz-Brana Senior Industrial Policy Advisor SEBC Daniele Mazzanti, Senior Administrator SEBC Paul Gadeggard Business Counsellor SEBC Ms Firyal Kherbek Business Consultant SEBC
Load more

Recommended publications
  • Syria and Repealing Decision 2011/782/CFSP
    30.11.2012 EN Official Journal of the European Union L 330/21 DECISIONS COUNCIL DECISION 2012/739/CFSP of 29 November 2012 concerning restrictive measures against Syria and repealing Decision 2011/782/CFSP THE COUNCIL OF THE EUROPEAN UNION, internal repression or for the manufacture and maintenance of products which could be used for internal repression, to Syria by nationals of Member States or from the territories of Having regard to the Treaty on European Union, and in Member States or using their flag vessels or aircraft, shall be particular Article 29 thereof, prohibited, whether originating or not in their territories. Whereas: The Union shall take the necessary measures in order to determine the relevant items to be covered by this paragraph. (1) On 1 December 2011, the Council adopted Decision 2011/782/CFSP concerning restrictive measures against Syria ( 1 ). 3. It shall be prohibited to: (2) On the basis of a review of Decision 2011/782/CFSP, the (a) provide, directly or indirectly, technical assistance, brokering Council has concluded that the restrictive measures services or other services related to the items referred to in should be renewed until 1 March 2013. paragraphs 1 and 2 or related to the provision, manu­ facture, maintenance and use of such items, to any natural or legal person, entity or body in, or for use in, (3) Furthermore, it is necessary to update the list of persons Syria; and entities subject to restrictive measures as set out in Annex I to Decision 2011/782/CFSP. (b) provide, directly or indirectly, financing or financial assistance related to the items referred to in paragraphs 1 (4) For the sake of clarity, the measures imposed under and 2, including in particular grants, loans and export credit Decision 2011/273/CFSP should be integrated into a insurance, as well as insurance and reinsurance, for any sale, single legal instrument.
    [Show full text]
  • How Over-Compliance Limits Humanitarian Work on Syria Challenges of Fund Transfer for Non-Profit Organizations Working on Syria
    Invisible Sanctions: How over-compliance limits humanitarian work on Syria Challenges of Fund Transfer for Non-Profit Organizations Working on Syria 1 Invisible Sanctions: How over-compliance limits humanitarian work on Syria Challenges of Fund Transfer for Non-Profit Organizations Working on Syria Principal Researcher: Dr. Joseph Daher Review and editing: Dr. Erica Moret IMPACT - Civil Society Research and Development e.V. Principal Researcher: Dr. Joseph Daher Review and editing: Dr. Erica Moret Graphic Design: Tammam Al-Omar Published by: IMPACT - Civil Society Research and Development e.V Keithstraße 10 , 10787 Berlin Not for Sale. IMPACT e.V - ©2020 All rights reserved, no part of this publication can be printed, reissued or used in any shape or form without the publisher’s prior written consent. The views and opinions expressed in this report are the authors’ own and do not necessarily reflect those of IMPACT e.V . Despite going to great lengths to verify the authenticity of the information contained in this report, IMPACT e.V cannot guarantee their total impartiality. Table of Contents Acknowledgement ................................................................................................................................... 2 Executive summary and Main Findings of the Research ............................................................................ 3 Added value to the literature ................................................................................................................... 4 Recommendations ..................................................................................................................................
    [Show full text]
  • 585 Parts 1000–1009[Reserved] Part 1010
    PARTS 1000–1009[RESERVED] 1010.440 Person outside the United States. Subpart E—Special Information Sharing PART 1010—GENERAL PROVISIONS Procedures To Deter Money Laun- dering and Terrorist Activity Subpart A—General Definitions 1010.500 General. Sec. 1010.505 Definitions. 1010.100 General definitions. 1010.520 Information sharing between gov- ernment agencies and financial institu- Subpart B—Programs tions. 1010.530 [Reserved] 1010.200 General. 1010.540 Voluntary information sharing 1010.205 Exempted anti-money laundering among financial institutions. programs for certain financial institu- tions. Subpart F—Special Standards of Diligence; 1010.210 Anti-money laundering programs. Prohibitions; and Special Measures 1010.220 Customer identification program 1010.600 General. requirements. SPECIAL DUE DILIGENCE FOR CORRESPONDENT Subpart C—Reports Required To Be Made ACCOUNTS AND PRIVATE BANKING ACCOUNTS 1010.300 General. 1010.605 Definitions. 1010.610 Due diligence programs for cor- 1010.301 Determination by the Secretary. respondent accounts for foreign financial 1010.305 [Reserved] institutions. 1010.306 Filing of reports. 1010.620 Due diligence programs for private 1010.310 Reports of transactions in currency. banking accounts. 1010.311 Filing obligations for reports of 1010.630 Prohibition on correspondent ac- transactions in currency. counts for foreign shell banks; records 1010.312 Identification required. concerning owners of foreign banks and 1010.313 Aggregation. agents for service of legal process. 1010.314 Structured transactions. 1010.640 [Reserved] 1010.315 Exemptions for non-bank financial SPECIAL MEASURES UNDER SECTION 311 OF THE institutions. USA PATRIOT ACT AND LAW ENFORCEMENT 1010.320 Reports of suspicious transactions. ACCESS TO FOREIGN BANK RECORDS 1010.330 Reports relating to currency in ex- cess of $10,000 received in a trade or busi- 1010.651 Special measures against Burma.
    [Show full text]
  • COUNCIL DECISION 2013/255/CFSP of 31 May 2013 Concerning Restrictive Measures Against Syria
    L 147/14 EN Official Journal of the European Union 1.6.2013 COUNCIL DECISION 2013/255/CFSP of 31 May 2013 concerning restrictive measures against Syria THE COUNCIL OF THE EUROPEAN UNION, products which could be used for internal repression, to Syria by nationals of Member States or from the territories of Having regard to the Treaty on European Union, and in Member States or using their flag vessels or aircraft, shall be particular Article 29 thereof, prohibited, whether originating or not in their territories. Whereas: The Union shall take the necessary measures in order to (1) On 27 May 2013, the Council agreed to adopt for a determine the relevant items to be covered by this paragraph. period of 12 months restrictive measures against Syria in the following fields, as specified in Council Decision 2012/739/CFSP of 29 November 2012 concerning 2. It shall be prohibited to: restrictive measures against Syria ( 1): — export and import restrictions with the exception of arms and related material and equipment which (a) provide, directly or indirectly, technical assistance, brokering might be used for internal repression; services or other services related to the items referred to in paragraph 1 or related to the provision, manufacture, main­ — restrictions on financing of certain enterprises; tenance and use of such items, to any natural or legal person, entity or body in, or for use in, Syria; — restrictions on infrastructure projects; — restrictions of financial support for trade; (b) provide, directly or indirectly, financing or financial assistance related to the items referred to in paragraph 1, — financial sector; including in particular grants, loans and export credit insurance, as well as insurance and reinsurance, for any — transport sector; sale, supply, transfer or export of such items, or for the provision of related technical assistance, brokering services or other services to any natural or legal person, entity or — restrictions on admission; body in, or for use in, Syria.
    [Show full text]
  • Legislative Decree No. 33 the President of the Republic, Acting in Accordance with the Provisions of the Constitution, Hereby Decrees the Following
    Legislative Decree No. 33 The President of the Republic, Acting in accordance with the provisions of the Constitution, Hereby decrees the following: Article 1 The following terms and expressions shall have, in the application of the present legislative decree, the respective meanings indicated below: A. Money-laundering: any comportment intended to conceal or alter the identity of funds having a connection with unlawful operations by disguising their origins so that they appear to have originated in lawful operations; B. Funds: assets of all types, whether tangible or intangible, movable or immovable, regardless of their manner of acquisition, and legal instruments or documents, whatever their form, including electronic and digital, constituting evidence of a right of ownership in such assets or a share therein, and everything arising from such ownership and any right connected therewith, including, by way of example and without limitation, national currency, foreign currencies, banking facilities, travellers cheques, bank cheques, money orders, shares, securities, bonds, documentary credits, drafts and bills of exchange; C. Illegal funds: funds obtained or resulting from the perpetration of any of the following offences, whether occurring in the territory of the Syrian Arab Republic or abroad: 1. The growing, manufacturing, smuggling or transporting of, or illegal trafficking in, narcotic drugs or psychotropic substances; 2. Acts committed by criminal associations, as provided in articles 325 and 326 of the Penal Code, and all offences internationally considered as constituting organized crime; 3. Terrorist offences, as provided in articles 304 and 305 of the Penal Code or in the international, regional or bilateral agreements to which Syria is a party; 4.
    [Show full text]
  • How Do Currencies Reflect the Arab Region's Dynamics?
    Artical Name : Mere Reflection Artical Subject : How do Currencies Reflect the Arab Region¶s Dynamics? Publish Date: 25/01/2018 Auther Name: Future for Advanced Research and Studies Subject : Currencies, whether paper or coins, real or virtual, digital or any other form, reflect the ongoing interactions in the Middle East region, as many developments demonstrate. The most striking events that demonstrated the dynamics of economic currencies within and among the Arab States are as follows: Gulf transactions 1- Boosting the efficiency of cross-border transactions between states: ³The United Arab Emirates is working with Saudi Arabia¶s central bank to issue a digital currency that would be accepted in cross-border transactions between the two countries´The UAE central bank governor Mubarak Rashed al-Mansouri stated on December 13, 2017. According to that approach, ³digital currency would be used among banks, not by individual consumers, through a better understanding of blockchain´Saudi liquidity2- Allocation of financial deposits to prop up the national currency in another state: Saudi Arabia deposited $ 2 billion in Yemen central bank, on January 17, after a sharp decline in the exchange rate of the Yemeni rial over the past period, after the Houthi militia took over government institutions¶revenues, including sale of petroleum products, collecting the due amounts in Yemeni rial, manipulating the currency exchange rate, tampering with sovereign fund balances and civil and military retiree funds, and seizure of exchange companies.The central
    [Show full text]
  • List of Certain Foreign Institutions Classified As Official for Purposes of Reporting on the Treasury International Capital (TIC) Forms
    NOT FOR PUBLICATION DEPARTMENT OF THE TREASURY JANUARY 2001 Revised Aug. 2002, May 2004, May 2005, May/July 2006, June 2007 List of Certain Foreign Institutions classified as Official for Purposes of Reporting on the Treasury International Capital (TIC) Forms The attached list of foreign institutions, which conform to the definition of foreign official institutions on the Treasury International Capital (TIC) Forms, supersedes all previous lists. The definition of foreign official institutions is: "FOREIGN OFFICIAL INSTITUTIONS (FOI) include the following: 1. Treasuries, including ministries of finance, or corresponding departments of national governments; central banks, including all departments thereof; stabilization funds, including official exchange control offices or other government exchange authorities; and diplomatic and consular establishments and other departments and agencies of national governments. 2. International and regional organizations. 3. Banks, corporations, or other agencies (including development banks and other institutions that are majority-owned by central governments) that are fiscal agents of national governments and perform activities similar to those of a treasury, central bank, stabilization fund, or exchange control authority." Although the attached list includes the major foreign official institutions which have come to the attention of the Federal Reserve Banks and the Department of the Treasury, it does not purport to be exhaustive. Whenever a question arises whether or not an institution should, in accordance with the instructions on the TIC forms, be classified as official, the Federal Reserve Bank with which you file reports should be consulted. It should be noted that the list does not in every case include all alternative names applying to the same institution.
    [Show full text]
  • Tax Relief Country: Italy Security: Intesa Sanpaolo S.P.A
    Important Notice The Depository Trust Company B #: 15497-21 Date: August 24, 2021 To: All Participants Category: Tax Relief, Distributions From: International Services Attention: Operations, Reorg & Dividend Managers, Partners & Cashiers Tax Relief Country: Italy Security: Intesa Sanpaolo S.p.A. CUSIPs: 46115HAU1 Subject: Record Date: 9/2/2021 Payable Date: 9/17/2021 CA Web Instruction Deadline: 9/16/2021 8:00 PM (E.T.) Participants can use DTC’s Corporate Actions Web (CA Web) service to certify all or a portion of their position entitled to the applicable withholding tax rate. Participants are urged to consult TaxInfo before certifying their instructions over CA Web. Important: Prior to certifying tax withholding instructions, participants are urged to read, understand and comply with the information in the Legal Conditions category found on TaxInfo over the CA Web. ***Please read this Important Notice fully to ensure that the self-certification document is sent to the agent by the indicated deadline*** Questions regarding this Important Notice may be directed to Acupay at +1 212-422-1222. Important Legal Information: The Depository Trust Company (“DTC”) does not represent or warrant the accuracy, adequacy, timeliness, completeness or fitness for any particular purpose of the information contained in this communication, which is based in part on information obtained from third parties and not independently verified by DTC and which is provided as is. The information contained in this communication is not intended to be a substitute for obtaining tax advice from an appropriate professional advisor. In providing this communication, DTC shall not be liable for (1) any loss resulting directly or indirectly from mistakes, errors, omissions, interruptions, delays or defects in such communication, unless caused directly by gross negligence or willful misconduct on the part of DTC, and (2) any special, consequential, exemplary, incidental or punitive damages.
    [Show full text]
  • Policies for Business in the Mediterranean Countries The
    Policies for business in the Mediterranean Countries The Syrian Arab Republic C.A.I.MED. Centre for Administrative Innovation in the Euro-Mediterranean Region c/o Formez - Centro Formazione Studi Viale Campi Flegrei, 34 80072 Arco Felice (NA) Italy Tel +39 081 525 0211 Fax +39 081 525 0312 e-mail [email protected] [email protected] The views expressed do not imply the expression of any opinion whatsoever on the part of the United Nations and of Italian Department for Public Administration, Formez and the Campania Ragion Administration CONTENTS 1-The New Reform Trend: towards a market-oriented economy 2-The economy by sectors and ownership 2.1 The severe impact of the Iraqi War on GDP growth 3- Agriculture 3.1- Policies and institutions. 3.2- International cooperation for rural development 4- Industry 4.1- Does reform mean privatization? 5- Foreign Trade 5.1- Institutions and civil society 5.2- Foreign trade regulation 6- Free Trade Zones 7- New Investment Regulation: Law No. 7 of 2000 8- Latest initiatives for private sector development 9-Credit and monetary policy: a fundamental task. 9.1 The liberalization of the Banking Sector 9.2 Modernisation of state credit and monetary system Bibliography 1- The New Reform Trend: towards a market-oriented economy Despite a number of significant reforms and ambitious development projects begun in the early 1990s and currently underway, Syria's economy is still slowed by large numbers of poorly performing public sector firms, low investment levels, and relatively low industrial and agricultural productivity. After the 1996 monetary crisis and a sudden shortage in valuable foreign currency, economic growth slowed to 2.6% annually in the second half of the 1990s.
    [Show full text]
  • Feasibility Study to Develop New Options for Private Sector Investment Financing in the Syrian Arab Republic
    Final Report Feasibility Study to develop new options for private sector investment financing in the Syrian Arab Republic EIB Final Report October 2005 - March 2006 Prepared by: Richard Crayne Bruce Harrison Rauf Khalaf Edward Owen With contributions from: Fatma Dirkes, Senior Project Manager, BAI Willemien Libois, Project Manager, BAI Raed Karawani, Legal Consultant Fahed El-Mohamad, Local Expert Bankakademie Damascus Office Bankakademie International Malki, Abdel Mounem Riad Street Sonnemannstr. 9-11 Kouatly Building No. 5 60314 Frankfurt am Main Damascus Germany Syria Phone: +49-69-154008-619 Tel: +693-11-3716332 Fax: +49-69-154008-670 Final Report With further contributions from: Syrian Government: Dr. Abdullah Dardari Deputy Prime Minister, Economic Prime Minister's Office Affairs Nabil Barakat Deputy Head Prime Minister Office SPC Nader Al-Sheikh Ali Director General of International Prime Minister Office SPC Cooperation Marwin Attar Consultant Prime Minister Office SPC Dr. Ghassen Al Habash Deputy Minister Ministry of Economy & Trade Dr. Amir Al Attar Director, Banking Affairs & Insurance Ministry of Economy & Trade Abd Al Razak Abd Al Maged Director, Interior Commerce Ministry of Economy & Trade Ibrahim Ibrahim Manager, Companies Registration Ministry of Economy & Trade Dr. Mohammad Al-Hussein Minister Ministry of Finance Dr. Mohammed Hamandoush Deputy Minister, Public Expenditure Ministry of Finance, CMC1 Mrs. Basmah Hafez Manager Banks & Insurance Ministry of Finance Farouk Ayash Senior Banking Advisor Ministry of Finance Marouf Al Hafez Public Debt Fund Ministry of Finance Omar Al Elabi Public Enterprises Ministry of Finance Nizar Shurbaje Department Revenue Ministry of Finance Mohee Deen Habeeb Treasury Ministry of Finance Jamal Medelgi Income Tax Ministry of Finance Dr.
    [Show full text]
  • Syriaeconomicreport
    SyriaEconomicReport SYRIA’S MACROECONOMIC PROGRESS NOT TO OVERSHADOW ITS DRASTIC REFORM REQUIREMENTS u The Syrian economy is currently witnessing an improvement in output performance, though still far below the prevailing potential of the economy. According to the International Monetary Fund (IMF), Syria’s real GDP growth rate has reported close to 3% in 2005 (4.5% according to official Syrian estimate). It is worth recalling that the Syrian economy had reported an average real GDP growth of 1.8% per annum, according to the same figures, over the period extending from 1999 to 2004. Non-oil GDP growth may have risen to about 5.5% in 2005, from 5% in 2004 according to the IMF, mainly driven by business investment, household consumption and non-oil exports. Despite the relative improvement in economic conditions, Syria’s September private demand continues to suffer from the lack of adequate financing, restricting its leverage effect on growth, and from a below potential private consumption and investment component in view of prevailing uncertainties. u Over the past year, the Syrian economy has benefited from rising oil prices and a regional post-Iraq war boom translating into 2006 larger inflows emanating from workers remittances, tourist receipts and foreign investment activity. However, the widening political uncertainties and the drastic reform requirements, despite the progress recently reported, continued to dampen growth performance. Oil dependence is also a significant concern as oil production is on a declining trend. According to the IMF, Syria will become a net oil importer within four to six years, with oil supplies likely to be exhausted in a couple of decades.
    [Show full text]
  • Important USA PATRIOT Act Information
    520 Madison Avenue New York, NY 10022 212.284.2300 Important USA PATRIOT Act Information Dear Customer, Please review the information provided. It contains important information regarding your account(s) at Jefferies LLC or Jefferies Financial Services, Inc. (collectively “Jefferies” or the “Firm”). Pursuant to U.S. regulations issued under Section 311 of the USA PATRIOT Act, 31 CFR 103.188, Jefferies is prohibited from establishing, maintaining, administrating, or managing a correspondent account for, or on behalf of, the following financial institutions listed below: • Commercial Bank of Syria (including Syrian Lebanese Commercial Bank as well as all branches, offices and subsidiaries of Commercial Bank of Syria operating in Syria or in any other jurisdiction) • FBME Bank Ltd (including all branches, offices and subsidiaries of FBME operating in any jurisdiction, including Tanzania and Cyprus Bank of Dandong (including all subsidiaries, branches, offices and agents of Bank of Dandong Co., Ltd, operating in any jurisdiction Any financial institution in North Korea Any financial institution in Burma (except those exempt under Executive Order 13310) Any financial institution in Iran The regulations also require Jefferies to notify you that your account with our Firm may not be used to provide the above listed financial institutions, or any of their respective branches, offices or subsidiaries, with access to our Firm. If you should have a relationship with any of the above listed financial institutions, or any of their respective branches, offices or subsidiaries, or should you become aware of a relationship with the above listed financial institutions, or any of their respective subsidiaries, please contact our AML Compliance Officer Edward Mannix immediately at 201-761-7794.
    [Show full text]