parliament.gov.sy does not resolve from this machine, so retrieved 18 August 2026 through the Internet Archive at web.archive.org/web/2023/http://www.parliament.gov.sy/arabic/index.php?node=5596&cat=4607, HTTP 200, 63,415 bytes, served in windows-1256 and decoded as such; corroborated against an independent copy at manhom.com/aliqtisadi, HTTP 200, 107,350 bytes, whose rendering of Articles 1 and 2 matches word for word
Status
READ
Version history
The register keeps changing after the book is fixed in print. Each entry below was added to this row in the order shown.
THIS CLOSES THE GAP AT CHAPTER 6 LINE 165 AND CONFIRMS THE EXPLANATION THE CHAPTER OFFERED WITHOUT EVIDENCE. The chapter says 'I cannot tell you the current cap on foreign shareholding', that the Central Bank's published copy of Law 28 permits Arab and foreign participation at Article 3 'up to the percentage specified in Article 9', that Article 9 in that copy specifies no percentage, and that the likeliest explanation is a pre-2010 text. ARTICLE 3 OF THIS LAW REPLACES PARAGRAPH (C) OF ARTICLE 9 OF LAW 28 OF 2001. In Arabic it opens: 'في جميع الأحوال يجب ألا تتجاوز نسبة تملك غير السوريين 49 بالمئة'. IN ENGLISH: IN ALL CASES THE OWNERSHIP SHARE OF NON-SYRIANS MUST NOT EXCEED 49 PER CENT of the bank's capital, AND IT MAY BE RAISED TO 60 PER CENT BY A DECISION OF THE COUNCIL OF MINISTERS ON THE PROPOSAL OF THE CREDIT AND MONETARY COUNCIL, provided the largest share belongs to a strategic partner being a banking institution of good international reputation, distinguished expertise in banking, wide presence, and financial indicators of high solidity. THE POLICY AND TRADE SUMMARIES ARE WRONG IN THE SAME DIRECTION AND SRC-246 IS THE SPECIMEN: they report that the law allows foreign investors to own up to 60 per cent. The ceiling is 49. Sixty is a discretionary uplift needing a Council of Ministers decision and a qualifying strategic partner. THE OTHER SEVEN ARTICLES, READ. Article 1 replaces Article 6: minimum bank capital 10 billion Syrian pounds; nominal share value not below 500 pounds; founders' shares not under 25 per cent at application; THE AGGREGATE OF ALL LEGAL PERSONS, SYRIAN, ARAB OR FOREIGN ALIKE, NOT ABOVE 60 PER CENT, extendable to 75 only where the increase goes to the public banking and financial sector; a natural person not above 5 per cent, counting the shares of spouse and children. Article 2 replaces Article 7: paid-up capital at least 50 per cent of authorised at establishment, the rest completed within three years, with dividends able to be withheld meanwhile. Article 4 replaces Article 4 of Legislative Decree 35 of 2005: Islamic banks minimum 15 billion pounds. Article 5: banks licensed before the law have three years to reach the new minimum. Article 6: such a bank may not move from 49 to 60 or 75 per cent unless the increase is accompanied by a capital rise to at least 50 per cent of this law's minimum AND prior Council of Ministers approval on the Credit and Monetary Council's proposal. Article 7: public banks stay under their founding instruments for minimum capital. Article 8: publication in the Official Gazette. Approved by the People's Assembly on 30 December 2009, dated 19-1-1431H, carried by the Assembly under 4 January 2010. TWO THINGS ARE OWED AND ARE NOT CLAIMED. WHETHER ANYTHING AFTER 2010 AMENDS ARTICLE 9(C) AGAIN IS NOT ESTABLISHED, and no sentence may present this as the position today without that check; it is the same question as the Official Gazette one at SRC-194. And the 2001 original of Article 9(c) has not been read, so nothing may be said about what it contained before this amendment.
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