Syria expects over $1bn in foreign capital for new banks, central bank governor says

RIYADH: Syria expects foreign investment in establishing new banks to exceed $1 billion in the coming period as it seeks to attract capital and strengthen its banking sector, a senior official said. In a statement to the Syrian Arab News Agency, Central Bank of Syria Governor Mohammed Raslan said the initiative is part of the bank’s objectives to encourage investment, protect customer rights and establish secure transfer corridors through official channels. The move comes as interest from region