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Syrian Cabinet (SANA)
Syrian Cabinet (SANA)

Syrian Cabinet holds Weekly Meeting

(Dp-news - Sana)
DAMASCUS- Chaired by Prime Minister Dr. Wael al-Halqi, the Syrian cabinet approved Tuesday the draft laws on exempting the loans of the Cooperative Agricultural Bank due to be paid on October 1st 2012, and the loans to fight unemployment from overdue payment fines in order to support the agricultural sector and reduce the financial burdens on farmers due to climate changes and the current circumstances in the country.

The cabinet also approved a draft law on establishing commercial courts in each province to look into trade disputes.

Minister of State for National Reconciliation Affairs, Ali Haidar, briefed the Cabinet on popular meetings held in several cities and areas that contribute to consolidating social unity and push the national reconciliation process forward.

The statement by Deputy Prime Minister for Economic Affairs, Minister of Internal Trade and Consumer Protection, Qadri Jamil, focused on economic problems, stressing that the economic situation in some areas is stable.

For his part, Governor of the Central Bank of Syria, Adib Mayaleh, presented a review of the bank's reserves of foreign currency, the exchange rate of the Syrian Pound and the bank's procedures to sell US Dollars and fund imports.

Mayaleh stressed that the bank's reserves of foreign currencies fulfill local needs, denying rumors about that the bank stopped positive intervention in selling and purchasing the dollar.

The Cabinet asked the Ministry of Technology and Telecommunications to complete all that is needed to announce the third mobile phone operator tender in cooperation with the Ministry of Finance and the Planning and International Cooperation Commission in two months.

In a statement to press after meeting, Mayaleh said that the Central Bank of Syria has issued two decisions on selling USD 10,000 to citizens for non trade purposes such as hospitalization and raising the amount if necessary, and selling USD 12,000 to students studying abroad to pay their fees.

The decision allows citizens to purchase foreign currency for savings on the condition that it doesn’t exceed USD 5,000 and that it be deposited in the bank for six months at least, adding that citizens can purchase USD 1,000 and withdraw it one day later.

Mayaleh added that citizens who have urgent needs to purchase foreign currency can submit a request to the bank for scrutiny, indicating that no company of bank have the right to sell foreign currency at a higher price than that set by the Central Bank of Syria.

Mayaleh also indicated that a decision on selling foreign currency for trade purposes was made and it allows dealers in foreign currency, whether traders or industrialists or importers, to pay for their goods through the Central Bank of Syria or any foreign currency exchange company if they present a certificate from customs which proves that their goods have been imported and entered the Syrian territories according to the applied laws.
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politics
judith kay            12/1/2012 7:54:55 PM
Is money money? or is money counterfeit?
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