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 ā€” 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.

ā€œSyria wants to ensure that its banking system is in line with international regulations,ā€ 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.