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List of Topics
Title:The Financial stock market
Topic:
 

In June 2005 the Syrian government set up a special body to supervise the future financial stock market, and authorized this body to prepare the draft stock market's law. The government is taking considerable steps to establish the basic requirements for this market. All concerned company and commercial laws will be amended accordingly. The market is expected to be ready for commodities and share trading in August 2006. Already, many companies have begun a process of self-regulation to be able to be listed on the market.
Syria's aim is to increase the level of investment in the country, and decrease unemployment rates. It is widely believed that the stock exchange market will give a good boost to the Syrian economy, and will be an essential step towards the country's development.

Title:Syria joined ICSID convention
Topic:
  Syria has joined the Convention on the Settlement of Investment Disputes between States and Nationals of Other States {ICSID Convention} that shall enter into force as of 24/2/2006.

This is another step in a series of steps the Syrian government is doing to promote investment into the country. Where Syria has also joined in 2002 the Multilateral Investment Guarantee Agency (MIGA). Therefore, foreign investors willing to invest in Syria are now eligible to receive MIGA's guarantee coverage, and protect investments against several risks such as transfer restriction, expropriation, breach of contract, and war.

Title:Islamic Banking Law
Topic:
 

After 40 years of a complete absence of private banks in the Syrian market, Law 28 (for the establishment of private and joint-sector banks) was issued in 2001, permitting private banks to operate. This law had an enormous effect on the market. Many applications have been received, and some banks began operating in 2004. The first three banks to open their doors were Bank BEMO Saudi Fransi, Bank of Syria and Overseas, and The International Bank for Trade and Finance. These three banks are all joint ventures between banks and local and foreign investors. Within months, the banks realized the level of demand for such financial institutions in the Syrian market, and started opening branches throughout the country. Another three banks have recently received approval, and are in the process of completing their registration.
After a couple of years of success in the banking sector, Legislative Decree 35 was issued in 2005, allowing for the establishment of Islamic banks in Syria. Many international institutions were keen to invest in this area. The first Islamic bank expected to open will be the Qatar International Islamic Bank. The Islamic Banking Law requires a minimum capital of S?5 billion ($95.8 million), while conventional banks require a minimum capital of S?1.5 billion. The 49% foreign ownership limit remains the same in Islamic banks as in conventional ones.

Title:Trademark
Topic:
 

Syria is a member of the Paris Convention for the Protection of Industrial Property of March 20, 1883, it also recognize the international classification of goods and services (Nice Agreement).

The legislative decree 47 dated 1946 as amended by Law No.28 dated 1980, is the Syrian law that govern the intellectual property regulation in Syria. The first section of this decree concerned with Patent, the second section concerned with designs & industrial patterns, where the third section is about trademarks.

Period of protection of trademark in Syria is for ten years as of the date of registration. Priority can be claimed under Paris convention.

Title:Patent
Topic:
 

Syria has joined the Patent cooperation treaty PCT, and the treaty is in force as of June 26, 2003.

The legislative decree 47 dated 1946 as amended by Law No.28 dated 1980, is the Syrian law that govern the intellectual property regulation in Syria, and the first section is concerned with Patents.

After preparing the application and all requested documents and paying the fees, the application to be filed before the patent office.

The patent office will refer the application to a special committee to study the file, and will send a copy to the related university and scholars, who have experience related to the patent subject matter. Then the committee will make the decision in granting the patent or not after receiving the report from the specialists and finishing the study.  

Period of protection of Patent in Syria is fifteen years, as of the date of signing the filling document.

Using the granted patent is compulsory in Syria; within two years as of the date of the grant.

An invitation for the using of this patent, to be published in the Syrian newspaper inviting investors to exploit the invitation in the country is considered satisfying the compulsory condition imposed by the law.