Contacts Underway to Amend Decision to Reduce Number of Lebanese Working in Syria Banks
Contacts are underway between Lebanese bank officials and Syrian authorities to amend a decision to decrease the number of Lebanese or non-Syrian staff at Lebanese bank branches in the neighboring country, Ad-Diyar daily reported Tuesday.
The newspaper said the decision to reduce the staff from 10% to 3% will be implemented starting end of this year.
The move came amid reports that Syrian authorities announced that Arab and western banks operating in Syria should increase their capitals from around 30 million dollars to 150 million dollars.
According to the decision, new banks will have to up their capitals to 300 million dollars.
Ad-Diyar said several Lebanese banks that have branches in Syria are facing difficulties in the implementation of the decision. The daily added that contacts are underway between Lebanese bank officials and Syrian authorities to look into the possibility of amending the decision.