Iran and Syria to open bank in Damascus

03 August 2010

The Syrian cabinet has approved a license for setting up a Syrian-Iranian bank in Damascus, with an initial capital of 1.5bn Syrian pounds (approx. $32m), the Islamic Republic of Iran News Network has reported. Iran's Saderat Bank, Alghadir Co, and Saipa Co, own 25%, 16% and 8%, respectively, of Al-Aman Bank's shares, while the remaining 51% of the shares will be offered to the public through Syria's stock exchange market.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications