LOC15:34
12:34 GMT
-- official
DAMASCUS, Oct 18 (KUNA) -- Chief of the Syrian State Planning authority
Tayseer Al-Radawi said here on Saturday that the current global financial
crisis will have little impact on monetary and banking sectors in Syria,
calling for controling this crisis and its implications.
The Syrian Arab news agency (SANA) quoted Al-Radawi as saying during a
seminar held here today to discuss the expected effects of the global
financial crisis on the Syrian economy, that the impact of the crisis in the
banking sector will be weak because of poor communication channels between the
Syrian cash economy and the global economy and "modern private banks we have"
as well as the lack of financial markets.
He noted that the directives of the Monetary and Credit Council in respect
of interest and the volume of loans contributed to the protection of this
sector of the negative consequences of the crisis.
He strongly urged for state intervention in the market of goods, services,
capital markets and seizure. (end)
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KUNA 181534 Oct 08NNNN