The Central Bank of Syria said that average interest rates local banks charge on their lending facilities remained unchanged last year, but well below the inflation rate.
The main index of the Syrian stock market rose 3.66 percent last month in thin trade as the exchange launched online trading for the first time.
The governor of the Central Bank of Syria (CBS) has said traders are permitted to conduct transactions in foreign currency, in comments that were interpreted by businessmen and local media as a step towards a dollarization of the economy after the pound fell to record lows earlier this year.
Data published by the Central Bank of Syria (CBS) shows an increase in the banking sector’s main indicators last year, although the growth rate remains lower than inflation.
The Syrian government granted last month the first banking licence in more than a decade to a murky group of investors including some with links to the Katerji family.
Insurance premiums increased by 37 percent in Syria last year as insurers raised prices to keep pace with inflation.
Syrian President Bashar Al-Assad dismissed Central Bank Governor Hazem Qarfoul a day before the Syrian pound was officially devalued for the second time in a year after sinking to record lows on the black market.
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.


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