DAMASCUS - The deposits in the Syrian banks have increased since the beginning of 2005 to last July by a rate that exceeds 25% for the public banks and 30 % for the private banks, AL-Thawra daily said Sunday.
In return, the Syrian banks have been witnessing a return of the Syrian deposits from the banks of the neighboring countries, particularly Jordan and Lebanon, the daily added.
Dr. Ratib al-Shallah, Chairman of Syrian Chambers of Commerce estimated the volume of the money returning from Lebanon since the beginning of the current year at USD 300 to 400 million.
Meanwhile, Governor of Commercial Bank of Syria Dr. Duriad Dergham asserted that tens of millions of USD monthly returned from Lebanon to the Bank.
The reason is not only the war but the banking services that Syria is offering like expansion of department of dealing with foreign currencies, facilitating the imports operations and ensuring necessary currencies through the Syrian banks directly.
Two Islamic banks which are al-Sham Islamic Bank with a capital totaled to USD 100 million and al-Baraka Bank affiliated to Saudi Dallah al-Baraka Group are joining the Syrian banking sector by the end of this year.
By H.Zein and Idelbi
© SANA (Syria Arab News Agency) 2006
