Syria welcomes Japan's decision to lift sanctions on four banks
Japanese broadcaster NHK World-Japan had reported that its government had decided to partially lift sanctions that had been imposed on Syria.
As part of the move, sanctions were lifted on The Industrial Bank, Popular Credit Bank, Savings Bank and Agricultural Cooperative Bank.
In a statement issued on Friday, the Ministry of Foreign Affairs and Expatriates said the move to ease restrictions would help bolster financial and economic cooperation between the two nations.
'This decision is a step in the right direction toward achieving stability and prosperity, and advancing Syria's reconstruction process,' the statement said.
It added that the lifting of sanctions will facilitate the implementation of development projects across various sectors and help alleviate the hardships faced by the Syrian people.
"Syria hopes that this step will pave the way for further openness and constructive cooperation with friendly Japan, based on mutual respect and common interests," it further said in the statement.
On May 24, the United States lifted comprehensive economic sanctions on Syria on Friday, marking a dramatic policy shift following the end of Bashar al-Assad's regime and opening the door for new investment in the war-torn country.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
an hour ago
- Khaleej Times
UAE: Emirates NBD to discontinue issuing some foreign currency demand drafts from Oct
Emirates NBD, a leading bank in the UAE, has informed customers that the bank will discontinue issuing some foreign currency demand drafts. In a communiqué on Saturday, the bank said that it will be discontinuing the service for some currencies, effective October 18, 2025. This is applicable to all customers of the bank, Khaleej Times has confirmed with a customer call representative. The last date that affected foreign currency demand drafts will be issued is October 17, 2025. The bank added that foreign currency demand drafts issued on or before October 17, 2025 "will remain valid and will be honored till the validity of the demand draft". The demand draft will be discontinued for the following currencies: USD (United States Dollar) GBP (British Pound Sterling) CAD (Canadian Dollar) EUR (Euro) AUD (Australian Dollar) SEK (Swedish Krona) NOK (Norwegian Krone) DKK (Danish Krone) HKD (Hong Kong Dollar) SGD (Singapore Dollar) CHF (Swiss Franc) JPY (Japanese Yen) In the notice, the bank recommended that customers make "the necessary arrangements well in advance to avoid any disruption". In June, Emirates NBD said that customers will be charged Dh26.25 (inclusive of VAT) for international transfers made via the app or online banking, including those done through DirectRemit. This, however, would remain free for India, Pakistan, Egypt, Sri Lanka, the Philippines, and the UK with a minimum transfer of Dh100 through the app via DirectRemit services.
Zawya
2 hours ago
- Zawya
Warba Bank announces strategic partnership with Zayoom to elevate its digital marketplace experience
Kuwait: Warba Bank today announced a strategic partnership with Zayoom, a specialized consumer electronics store, aimed at enriching the bank's digital offers marketplace with exclusive benefits, including special discounts, limited seasonal deals and Marketplace e-store offers. This collaboration enhances the value offered to the bank's customers and aligns with their aspirations. Commenting on the announcement, Muhannad Issa Bourahma, Director of Product Development and Customer Segments at Warba Bank, said: "This partnership comes as part of our ongoing commitment to delivering the best digital experience for our customers, in line with our vision to create unique value both within and beyond banking services. Through the Warba app, we empower our customers to access the latest offers and modern products directly via the dynamic and ever-evolving Marketplace section. This collaboration reflects our spirit of innovation and our constant drive to keep pace with their modern lifestyles and enrich their daily experiences." The partnership gives Warba Bank a genuine opportunity to expand its engagement with customers, leveraging the app's advanced architecture that personalizes content for each banking segment. Each segment has its own unique design, colors and character within the app, enabling the delivery of offers tailored to their needs and interests, moving away from the 'one-size-fits-all' concept. The Marketplace is also distinguished by its flexibility and dynamism, with constantly updated offers, including rapid seasonal Flash Deals at unbeatable prices, transforming the app into a comprehensive digital destination full of surprises. As part of this partnership, Zayoom is launching an exclusive, limited-time summer travel season offer: the Essential Tech Pack, a bundle containing all the smart devices customers need while traveling, offered at an exceptional price. This package represents a true Flash Deal and an opportunity not to be missed. From his side, Mohamed Fawzy, Chief Executive Officer of Zayoom, said: "We are proud of this partnership with Warba Bank, a bank that entered the market recently yet has succeeded in reshaping the banking sector through the adoption of the latest technologies and its dedication to delivering the highest level of service. Warba is renowned for its advanced app, which has redefined banking interaction and provided customers with a fully integrated, seamless digital experience. We see this partnership as a strategic opportunity that opens new horizons for us, allowing us to reach a broad segment of customers interested in technology and smart products. We believe it is a strong step toward realizing our vision of delivering the best tech solutions in Kuwait." This collaboration embodies Warba Bank's core values of trust, innovation, performance, collaboration, and ambition, and reaffirms its commitment to supporting the digital economy ecosystem while promoting a culture of smart utilization of tech offers. With this strong start alongside Zayoom, Warba Bank promises its customers more surprises and upcoming partnerships that will enhance their lifestyles and broaden their choices, ensuring Warba remains the preferred choice for ambitious individuals and businesses in Kuwait.
The National
3 hours ago
- The National
Syrian army plans to seize eastern provinces if Kurds fail to co-operate
The Syrian military is planning a major offensive by October to capture two main provinces on the Euphrates River from a mostly Kurdish militia that has refused to submit to Damascus, security sources told The National. If the Syrian Democratic Forces (SDF) does not hand over the bulk of its territorial possessions, a Syrian attack force of 50,000 being assembled near the desert city of Palmyra will sweep north and capture the governorates of Raqqa and Deir Ezzor with support from their overwhelmingly Arab tribal populations, the sources said. One of the sources, who holds a sensitive security position in Syria and requested anonymity, said the offensive would not go ahead 'without an American green light'. Another key would be ensuring non-intervention by Israel, which last month bombed Damascus to repulse a government offensive on the southern provincial capital of Sweida. US-sponsored talks have failed to make progress in bridging differences between the two sides. The secular SDF is increasingly being seen as recalcitrant in Washington by not handing any significant powers to Damascus, the source said – a view closer to that of Turkey, which wants the SDF's demise. Deadly clashes Re-establishing central control of SDF territory has emerged as a major obstacle to stabilisation since the removal of former Syrian president Bashar Al Assad in December by Hayat Tahrir Al Sham (HTS), an al Qaeda splinter group now in control of the state. Deadly clashes have increased between the SDF and forces loyal to Damascus since the US-sponsored talks between the two sides faltered last month. The two sides signed a deal in March to integrate the SDF into the Syrian army, but relations have soured since then. At Saudi and Turkish urgings, the US embarked in May on normalisation with Damascus. President Donald Trump met President Ahmad Al Shara in Riyadh, giving a glimpse of a potential alliance that could weaken Iran and Russia, and their allies in the Middle East. Staging grounds Another source said that staging grounds for the offensive are being prepared in the desert areas of Rasafah, on the road between Palmyra to Raqqa, and in Sukhnah, which links Palmyra with Deir Ezzor. Turkish proxies in the governorate of Aleppo, now part of the new Syrian army, would move against SDF positions east of the Euphrates river, near Tishreen Dam, once the multipronged attack begins. In the past eight years of the Syrian civil war, Turkey had carved out a zone in northern Syria, reliant on rebel allies now in power in Damascus, to limit the territorial expansion of the SDF. Arab tribesmen, thousands of whom had joined the SDF, would be expected to turn against the group at the start of military action, the source said. Around 30 per cent of the 70,000 core SDF members are members of Arab tribes. 'They have so many scores to settle with the Kurds,' the source said, referring to an SDF land grab of Arab areas since the US set up the Kurdish force in 2015 as the main ground component in the war against ISIS in Syria. Even a major advance by the government would leave the SDF with the province of Hasakah, where the Kurdish population is significant. Raqqa and Deir Ezzor are overwhelmingly Arab. The Kurds account for around 10 per cent of Syria's 23.8 million population, according to the CIA's World Factbook. However, currently SDF-held areas account for most of Syria's output of commodities, electrical power, and energy. US State Department officials have been urging the SDF to compromise, although it is seen as retaining strong support within US security branches. The SDF wants a federal system, an anathema Damascus, and to remain as a single unit, even if its joins the Syrian army. During the civil war, Russia, Iran, Turkey and the US built their own zones of influence in the country. But only Turkish and American forces have remained in Syria. Most of an estimated 20,000 Turkish force are deployed near SDF area, while the 1,000 American troops are mainly on bases within SDF territory.
