jump to navigation

First Bank To Operate On Basis Of Islamic Law Opens In Syria – Middle East News August 28, 2007

Posted by islamicfinanceaffairs in Uncategorized.
trackback

First Bank To Operate On Basis Of Islamic Law Opens In Syria – Middle East News

Syria on Monday opened its first Islamic bank – one that operates exclusively on the basis of Shariah, or Islamic law – with a starting capital of 5 billion Syrian pounds ($100 million).

The opening of the Kuwaiti-owned Cham Islamic Bank in Damascus was attended by Syrian Finance Minister Mohammed al-Hussein and Adib Mayaleh, governor of the Central Bank.

Adnan Mosallem, head of the Cham Islamic Bank’s administrative council, said the bank would start business by offering various financial services in accord with Islamic law.

Advertisements

Comments»

No comments yet — be the first.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: