Licensing of banks raises questions about AANES’ capacity and objectives  ...Syria

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Licensing of banks raises questions about AANES’ capacity and objectives 
Enab Baladi – Jana al-Issa During the past period, the Autonomous Administration of North and East Syria (AANES) issued a series of economic decisions aimed at regulating the financial sector in its areas of control. The latest of these decisions was issued at the end of last January, represented by organizing the licensing of local and foreign banks in the region, in accordance with 40 articles that included multiple clauses. According to the decision, it is prohibited for anyone to engage in any banking business in AANES areas without obtaining a prior written license under several conditions. The decision defined banking activities as the activity that involves licensed banks accepting de

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