IslamicFinance.de

The European Union on Thursday lifted sanctions on the Syria International Islamic Bank and businessman Sulieman Maarouf with ties to Syrian President Bashar al-Assad who lives in London. The moves came as part of a decision to extend the Syria sanctions on nearly all targets for another year, until June 1, 2015. A European diplomat said the decision to lift sanctions against the bank was taken because of a lack of strong evidence linking it to Mr. al-Assad's regime. The Syrian International Islamic bank was placed on the list because the EU alleged it facilitated transactions for the Commercial Bank of Syria and the Syrian Lebanese Commercial Bank. The list now includes 179 people and 53 entities that the EU says are "linked" to violent repression by Mr. al-Assad's regime.