Monday, May 02, 2005

Syrian Transformation Continues

Something of late has seriously gotten the attention of the Syrian government. First, the pullout from Lebanon. Now this:
Syria Enacts Laws to Stem Terror Funding
Agence France Presse


DAMASCUS, 3May 2005 — Syria, facing pressure from the United States, has brought in new banking laws to crack down on money laundering and terror funding, the official SANA news agency reported yesterday.

“Syria wants to ensure that its banking system is in line with international regulations,” Finance Minister Mohammad Al-Hussein was quoted as saying. Washington has raised concerns over the alleged involvement of the Commercial Bank of Syria in money-laundering operations and the financing of terrorism, threatening sanctions under the US Patriot Act passed after the Sept. 11 attacks of2001 .

read the full story here.