Syrian Minister of Finance Mohammed Yosr Bernieh announced that the ministry is preparing to launch a plan next week to restructure the Real Estate Finance Oversight Commission, aiming to enhance its performance and activate its role in the financial sector.
In a post on LinkedIn, Bernieh stated that the plan includes reconstituting the Commission’s board of directors to include specialized experts, along with restructuring the real estate financing system and mortgage markets in Syria.
Bernieh emphasized that developing real estate finance is a key component of broader efforts to advance Syria’s financial sector and remains a top priority for the Ministry of Finance.
He underscored the urgent need to regulate real estate financing and establish appropriate financial institutions and tools—particularly amid expectations of significant growth in urban development projects. This includes strengthening long-term financing mechanisms for both housing developers and individual homebuyers, especially those with limited income.
On Thursday, July 10, Bernieh met with Minister of Local Administration and Environment Mohammad Anjarani to discuss financial management strategies for municipalities and governorates. The two officials also explored ways to provide additional financial support to underdeveloped and remote provinces in order to fund vital infrastructure and public service projects.
The meeting also addressed ongoing efforts to simplify local administrative fees as part of Syria’s broader tax reform initiative.
Committee to Review Syria’s Public Finance Law
Earlier, on June 29, Bernieh issued a decision to form a committee tasked with reviewing and updating Syria’s Public Finance Law.
According to the ministry, the goal is to achieve a qualitative shift in how the government manages expenditures and revenues, moving away from centralized control and embracing digital payments, while also expanding the roles and responsibilities of financial auditors.
The committee’s mandate includes studying Legislative Decree No. 54 of June 1, 2006, which enacted Public Finance Law No. 5, and proposing amendments that align with the government’s upcoming economic priorities.
The decision stipulates that the committee must present its findings no later than July 15 and take any measures it deems necessary to achieve its objectives
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