Syrian Second Conference for Financial and Bank Services ends activities
Sunday, November 05, 2006 - 08:55 PM

DAMASCUS, (SANA) – Syrian Second Conference for Financial and Bank Services, in which more than 600 Arab and international personalities has participated and organized by the British-Syrian Society under the title of Syria's integration in the World Economy, ended activities on Sunday.
Rounds of discussion headed by David Hale, Managing Director of the American Consulting Company Hale Advisers LLC, dealt with the effects of economic sanctions imposed on Syria by the USA.
"These sanctions will not realize the goals that the USA has been seeking for," member of the British-Syrian Society Ghayth Armanazi said.
Director General of Syria's Bank of Commerce Doureid Dergham said the economic sanctions imposed by the US on the Bank are due to political, not economic reasons. "The USA has failed to prove any breach allegedly committed by the Bank in breach of world laws and rules," Dergham said.
For his part, Chairman of the British-Arab Chamber of Commerce, Sir Roger Tomkys underlined that US sanctions on some countries including Syria aim to achieve political goals, noting that these sanctions did not affect the economic development in the country. "Syria has made important steps in the field of development, economic, financial and banking modernization," he stressed.
Director of the British Risk Management Company Cliff Knuckey talked about the real reasons behind the US economic sanctions on Syria. "There isn't any kind of money laundering operations committed by Syria's Bank of Commerce…and the USA who is marketing these claims has its own name on the world list of money laundering," he added.
"Despite the fact that Syria formed work teams for combating money laundering, the USA imposed sanctions that shows the double-standard policy the US is following in dealing with the political issues," Knuckey noted.

He indicated that the pressures to which Syria has been exposed aim at changing her own policy which supports all Arab liberation movements in restoring their usurped rights and lands including the Syrian Golan.
Earlier, Director of the Investment Office in Syria Dr. Mustafa al-Kafri stressed that Syria has the appropriate atmosphere for attracting Arab and foreign capitals due to her political and economical stability.
"The government seeks to overcome all obstacles that hinder the establishment of investments in Syria thorough enacting new legislations to organize investment operation in the country and freeing the economy from all obstacles," Kafri said in a statement.
For his part, Syria's Central Bank Governor Dr. Adib Mayyaleh pointed out to the procedures and reforms by the Syrian government to support the financial field and policies in Syria.


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