The Committee for Finance and the Banking Sector in the Supreme Commission for Scientific Research has developed a number of proposals for the development of financial and banking sector, according to the Director of Planning in the Ministry of Economy and Foreign Trade, Samar Kseibati.
According to pro-government Tishreen newspaper, the Commission has prepared studies for the restructuring of state-owned banks to offer comprehensive services and all banking products. Moreover, the Commission is now studying the possibility of converting state-owned banks into joint stock companies owned by the state, with their shares included in the financial market.
Kseibati explained that the study will also focus on improving the methods of supervision of the Central Bank on private and public banks, and will try to find a suitable formula to attract the domestic and international investment to be deposited in local banks, as well as finding a new mechanism to create a market for bonds and expand monetary policy, as well as legal protection for the lenders and borrowers.
Kseibati focused on the role of fiscal and monetary policies to achieve growth and social justice, and on price stability.
In contrast, a study is being prepared to find ways to improve the investment environment and increase the demand for bank financing and encourage banks to invest.
Translated and edited by The Syrian Observer