Syria’s Central Bank governor Abdulkader al-Husrieh announced on Monday that the bank has completed updating the executive regulations for the Investment Banks Law No. (56) of 2010, marking an important step toward developing Syria’s financial system.In a post on his personal Facebook page, al-Husrieh described the move as a “qualitative step toward developing Syria’s financial and banking system to meet the country’s reconstruction financing needs.”  Speaking about the law, the governor said it represents “a pivotal moment in regulating and licensing investment banks and enhancing the national investment environment in line with regional and international transformations in the field of financial services.”  al-Husrieh further noted that the law and its executive regulations aim to organize the work of investment banks according to the best international practices and standards, enabling the financial sector to play an active role in financing development projects and reconstruction efforts.  According to the governor, the law seeks to strike a “balance between encouraging private investments and ensuring public oversight, institutional transparency, and enhanced investor protection,” while reinforcing the principles of sound governance and corporate responsibility.  Al-Husrieh expects investment banks to be licensed in Syria once the executive regulations come into effect.  He viewed the move as a “strategic step toward building a modern Syrian economy based on investment, transparency, and accountability.” It also paves the way for a new phase of economic growth and sustainable development, strengthening Syria’s position as an active and influential financial and investment hub in the region, according to the governor. (ICE BEIRUT)

Fonte notizia: Syrian Arab News Agency