Article 25
1. It shall be prohibited for credit and financial institutions falling within the scope of Article 35 to: (a) open a new bank account with any Syrian credit or financial institution; (b) to establish a new correspondent banking relationship with any Syrian credit or financial institution; (c) to open a new representative office in Syria or to establish a new branch or subsidiary in Syria; (d) to establish a new joint venture with any Syrian credit or financial institution. 2. It shall be prohibited: (a) to authorise the opening of a representative office or the establishment of a branch or subsidiary in the Union of any Syrian credit or financial institution; (b) to conclude agreements for, or on behalf of, any Syrian credit or financial institution, pertaining to the opening of a representative office or the establishment of a branch or subsidiary in the Union; (c) to grant an authorisation for taking up and pursuing the business of a credit or financial institution or for any other business requiring prior authorisation, by a representative office, branch or subsidiary of any Syrian credit or financial institution, if the representative office, branch or subsidiary was not operational before 19 January 2012; (d) to acquire or to extend a participation, or to acquire any other ownership interest in a credit or financial institution falling within the scope of Article 35 by any Syrian credit or financial institution.