A local study suggests the establishment of a bank for “reconstruction”

Damascus Center for Research and Studies (MADAD) published a study on the sources of reconstruction funding in Syria.

The study has proposed the establishment of a reconstruction bank called “the Development Bank”, which together with the central bank will be a key tool that authorizes the Syrian government to use it to accomplish the reconstruction process as soon as possible. The study clarified that the capital will be ensured through the government’s issuance of treasury bonds purchased by Syrian citizen within and outside of the country.

The study stressed the necessity to reconsider the legislations governing banking work and administrative and operational legislations in order to be more flexible and effective, so as to contribute effectively to the financing of reconstruction.

 The study suggested imposing high customs duties on the unnecessary luxury goods and services and on goods that have internal alternatives to increase production, stressing the need to reconsider tax exemptions of investment projects, especially services.

The study underlined the urgency of ensuring the collection of state property revenues through many ideal ways as well as accelerating the reinvestment of gas and oil available fields.

Inas Abdulkareem