Societe Generate, one of France's leading commercial banks, is studying with the Syrian government the project of setting up a banking network in the country.
According to a source at the Ministry of Economy, the delay in issuing the new reformed financial law will have no incidence on the setting up of the first private banks in the country.
Syria's parliament on Thursday passed a 2002 budget projecting expenditure of SYP356 billion (US$7.66 billion), a 10 percent increase on the previous year's spending, reported the Syrian Arab News Agency (SANA).