Under the Patronage of H.E. Dr. Mohammad Al-Hussein, Minister of Finance

 the International Financial and Investment Institutions Forum

Four seasons Hotel- Damascus on 21-22/11/2007.

More than 600 participants attended the International Financial and Investment Institutions Forum, they represented Banks, Insurance companies, exchange companies government and privet, shara'a, academical, political, and diplomatically Institutions. Many other investors, trader, manufacturer and specialist in the financial and business sectors were there too. Also specialist form Ministries, trade chambers, Manufacturing chambers and tourism chamber. Others form free zones, IT companies, communication companies and training centers. From Arab countries and foreign countries; ( Cyprus, France, UAE, KSA, Egypt, Morocco, Iraq, Iran, Jordan, Lebanon, and Syria)

The Forum was opened at Four Seasons – Damascus in 9.00 am on 21/11/2007, and it last tow days. It was held with the cooperation of Syrian Investment Agency and Syrian Insurance Federation.

The Forum was held Under the Patronage of H.E. Dr. Mohammad Al-Hussein, Minister of Finance. H.E. welcomed the attendances in his opining speech and hoped that they will benefit from what would be introduced in the forum. HE speech included "this forum is hold in Damascus at the same time of the noticeable development and activities in Business, Investment and Financial sectors after the Syrian Government had accomplished the institutional and legislative frame in these important sectors oriented by Mr. President Bashar Al Assad. Wide and stylish modernizations had happened to the financial sector either in financial policy scope or in monetary policy scope, the private banks and private insurance companies become a real event. Today there are nine private banks and eight private insurance companies working in the Syrian market, there is an exhorted endeavor and agenda to open Damascus stock exchange at the starts of 2008."

Dr. Moustafa El-Abdallah Alkafry, General Manager of Syrian Investment Agency said in his speech "Syria had methodized a clear policy to promote the local, Arabic and foreign investment. It had investing chances, proper guarantees, and many poundage and custom advantages and others, through investment promoting laws. Especially decree number 8 in the year 2007 about improving the investment and decree number 9 about operating Syrian Investment Authority that which assure the government policy in promoting the peculiar and public-private sectors to play an increasing role in development movement in all its forms. This policy had bear during the last few years, as many special enterprises was established and its production had developed so much, many of them was able to find for itself a location in global export markets extreme competence in these markets."

Forum activities participate in clarifying the investment and properties environment that investors and businessmen could gain, special in the banking sectors in Syria.

Mr. Suleiman Adnan Al – Hasan, Chairman of the Syrian Insurance Federation Said in his speech" It pleases us to be with you in one of the most important economical forums that today exceed being just normal economical forums. It becomes an urged necessity to convoy the rapid developments and a pulpit to show the economical legislations and changes, clarifying its ambiguity, discussing its difficulties and arriving to the best solutions that push the national economy to the front. Especially the economical openness that we witness in all economical sectors. It is better here to speak about our expertise in insurance sector, as it is a best example about this studied and rapid openness. From decree /68/ about founding insurance supervisory committee to decree /43/ about issuing insurance legislation to the permission of the companies to that flow progressively to the market, as it is so eager to its fertility and potentials. Then comes the foundation of the Syrian Union for Insurance Companies to be a connection between these companies, sponsor to their interests, control to their behavior and speaking in their name. Although it is a newly born expertise, it becomes a good example in other insurance markets."

In the speech of Mr. Maher Abdul Hak, General Manager of Al Salam for Conferences (organizer) said "The importance of the Int'l Financial and Investment Institutions Forum comes from the positive economical developments that Syria has witnessed that resulted from the procedures adopted by the Syrian government. The financial, monetary and banker sectors in Syria are the most sectors that gain the development especially after working of the private sector. The competence between the public and private banks resulted to its development, refreshing its work mechanism and transferring it to comprehensive private banks. As the number of the Islamic and traditional banks reach nine and private insurance companies to ten, two of them are Islamic, in addition to the permission of five banking companies and five exchanges companies."

After the opening speeches HE Dr. Mohammad Al-Hussein, Minister of Finance opened the exhibition, with the attendance of VIPs of ambassadors, economy attaché, Managers of trade, manufacturing and truism chambers and Chairmen, members of banks.