The Central Bank of Syria (CBS) has introduced a new exchange rate for importers, merchants, and manufacturers in a bid to narrow the gap between the official and black market rates after the local currency sank to record lows against the US dollar.
Syria’s anti-money laundering and terrorism financing commission conducted dozens of missions targeting the black market in foreign exchange last year as the government sought to stem the local currency’s slide, according to its recently released annual report.
Updated April 07/2021:The combined credit portfolios of all microfinance lenders in Syria reached SYP 28.6 billion last year, while deposits reached SYP 16.9 billion, according to statistics released by the Central Bank of Syria (CBS) for the first time, highlighting the government’s growing interest in this sector.
The four representatives of the Lebanese Byblos Bank SAL (BYB) resigned from the board of its Syrian subsidiary this week, potentially paving the way for it to quit the country.
A Kuwaiti securities firm is set to acquire a 22 percent stake in Syria’s sanctioned Cham Bank in a rare case of fresh foreign investment in the country’s banking sector.
The Central Bank of Syria (CBS) has introduced a new, preferential exchange rate for international agencies at twice the official rate as the Syrian pound trades near record lows against the dollar on the black market.
Gold prices in Syria are up more than 288 percent year-on-year amid volatility in global prices and a slide in the value of the local currency, which reached a historic low this week.
The Syrian pound has fallen to another historical low after crossing the SYP 4,000 threshold against the dollar on the black market despite a renewed crackdown by the government on foreign exchange dealers and speculators.
The main index of the Syrian stock exchange jumped some 19 percent last month crossing both the 9,000 and 10,000 levels for the first time.
The United States Office of Foreign Assets Control (OFAC) said it has settled with U.S.-based cryptocurrency company BitPay over a violation of its sanctions on Syria and other countries.
Syria has issued a new law to regulate the establishment of microfinance banks, a sector which looks set to thrive in the near future given the increasingly large pool of low-income Syrians.
The Syrian pound has plummeted to its weakest levels against the US dollar in history, ranging between SYP 3,270 to SYP 3,300 per dollar in the black market.
Banque Bemo Saudi Fransi SA, Syria’s largest private conventional bank, has been granted a licence to launch a microfinance project with a prominent forex trader believed to be affiliated with influential Lebanese and Syrian business figures.
Syria’s main stock market indices both rose slightly in January, rising for a third straight month and extending their recent gains into the new year.
The Central Bank of Syria (CBS) has started to circulate SYP 5,000 notes, the highest ever denomination of the currency to be issued, in an acknowledgement of the intractable inflation that has been afflicting the country for years.


Investment Facilities at the Industrial City of Adra
Damascus Chamber of Commerce
Damascus International Fairground