The main index of the Syrian stock exchange fell for the third month in a row and for the fourth time in five months since the beginning of the year, highlighting investors’ lack of confidence over the economy.
Rami Makhlouf has reportedly obtained a license to open a microfinance bank in Syria.
Syria’s stock market index fell for the second month in a row as investors partly retreat from the market.
The latest political developments, perceived in Damascus as favourable to the Syrian regime, have helped shore up the value of the Syrian pound in the foreign exchange market.
The value of trading in the Damascus Securities Exchange declined during the first quarter of 2018 relatively to the previous quarter, while share prices remained mostly stable as investors seem to be in a wait-and-see mode.
Payment facilities and restrictive measures have ensured a sharp increase in the Large Taxpayers Unit of the Ministry of Finance last year.
The Syrian financial markets regulator has revoked the license of several investment banks, some of them regional institutions, which had already suspended their operations in Syria or never started them.
Syria’s main stock market index gained again last month amid rising trading volumes.
The bank accounts of the World Chess Federation have been closed over sanctions imposed on its president for dealing with the Syrian government.
For the first time in months, the main index of the Damascus Securities Exchange fell as investors seemed to be taking their profits.
Updated on January 23, 2018: The Syrian financial markets regulator has renewed for one more year the license of seven brokerage firms, while many others have their operations suspended or entirely left the market.
Only days after allowing local banks to resume lending, the Central Bank of Syria has partly backtracked on its decision for fear of pressures on the pound.
Byblos Bank Syria has announced the appointment of a new general manager.
Preliminary data from Syrian officials indicate that tax revenues increased last year, as a consequence of an improvement in economic activity and tax collection, although they remain far below budgetary expenses.
In December, the Syrian pound fell again relative to the dollar, reducing further confidence in the national currency and the Central Bank of Syria.


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Damascus International Fairground
Damascus International Fairground