Regulatory Alerts2017-06-09
Added · Updated
Inclusion of Information Technology Sector in Medium-Term Financing Instructions
The Central Bank of Syria includes the Information Technology sector within the instructions on extending medium-term advances to licensed banks under Circular No. 54/2011. This decision, issued by Governor Dr. Ziad Fariz, applies to licensed banks and covers activities such as software development, mobile applications, internet sites, and digital data processing. The inclusion is effective as of 25 October 2015.
Number: 3/1/1316296 Date: 12 Muharram 1437 Hijri Corresponding to 25 October 2015 Circulation to all Licensed Banks In line with the measures taken by the Central Bank to provide medium- term financing to licensed banks for the purpose of re-lending economic sectors, it has been thereby decided to include the sector of Information Technology (Financing the development and licensing of software, mobile applications, Internet sites and content, the foreign contractual centers services, the digital contact centers services, the programming of videogames, digital data processing) within the instructions on extending medium- term advances to licensed banks no (54/2011) dated on 14/3/2011 and all subsequent circulars on this regard as of date. Respectfully Governor Dr. Ziad Fariz