Syria to set up monetary and credit council

SYRIA - President Bashar al-Asad has issued Law No. 23 of 2002 providing for the establishment of a Monetary and Credit Council [MCC]. The law stipulates that this council shall be in charge of organizing the monetary and credit institutions in Syria and activating them to achieve the objectives set forth in the law.

These are:

A. Developing and organizing the monetary and financial market in accordance with the needs of the national economy.

B. Maintaining the purchasing power of the Syrian cur