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Shuaa Capital in Syria bank talks

by James Cordahi on Wednesday, 12 December 2007

Dubai-based investment bank Shuaa Capital said it is in talks with UAE firms about setting up a bank in Syria to tap the country's growing economy.

"The strategy is to team up with UAE partners to go into Syria," Iyad Duwaiji, Shuaa Capital Chief Executive Officer, told reporters on the sidelines of a private equity conference in Dubai.

"We are always looking to get into Syria," he said on Tuesday.

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Shuaa would make the investment through one of the funds it manages for clients, Duwaiji said, declining to give further details. (Reuters)

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