Lebanon’s BLOM has said that it deconsolidated its Syrian operations in order to protect itself from international sanctions.
The main index of the Damascus stock exchange rose again slightly in July after several months of decline.
Updated on July 21, 2017: Syria’s private commercial banks, which saw last year their assets fall to a fraction of what they were in 2010 and now barely breakeven, are unable to finance any meaningful reconstruction drive.
Revenues from the customs department, which represents a rare source of stable government revenues, increased again in the first half of this year, according to an official.
The Central Bank of Syria has started circulating a new banknote, for the first time with the face of Bashar Al-Assad on it.
The return of calm in many parts of Syria does not seem to impress much investors in the Syrian stock market as the main index continued to decline last month.
Switzerland’s highest court has refused to hear an appeal from the Central Bank of Syria for lifting sanctions on it.
In the past six weeks, the Syrian pound has gained ground relative to the U.S. dollar, bringing it back to its level of six months ago.
The Syrian Government has requested public sector entities to prioritise local suppliers at the expense of foreign ones in a bid to save scarce foreign currencies.
In May, the main index of the Damascus Securities Exchange declined for the first time in months as the amounts traded by investors also fell.
The Islamic State is banning the use in its territory of any currency other than its own Dinar in an apparent bid to collect as much dollars as possible from the market before a potential withdrawal.
The Central Bank of Syria has revoked the license of one of the few microfinance institutions working in the country.
After three consecutive months of strong growth in the market index and the value of the shares traded, the Syrian stock exchange returned in April to last year’s more modest averages.
The Central Bank of Syria is reportedly considering issuing dollar-denominated treasury bonds to finance the import of energy products, a prospect that could reflect a disconnect of the financial authorities with economic and political realities.
Updated on April 20, 2017: The list of investors whose assets were recently frozen by the Syrian government has dozens of prominent names, including family members of prominent security officials.


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EDU 2011 Damascus
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