The DWX closed 2018 with a small decline as the Syrian stock exchange mostly failed to live to its expectations last year.
Only weeks after buying a sizable stake in one of Syria’s largest banks, Samer Foz has invested in another Sharia-compliant financial institution.
The Syrian regime is continuing a relentless campaign to freeze and confiscate the assets of its people, mostly those affiliated with the opposition, with dozens of thousands of people affected last year alone.
Fransabank Syria has announced the resignation of its Lebanese chairman, confirming the dissociation policy adopted by Lebanese banks operating in the country.
Samer Foz, Syria’s most prominent businessman in past years, has expanded his business activities by buying a significant stake in the country’s largest private sector bank.
Several decisions issued by the Central Bank of Syria will increase lending by, and credit risks for, the banking sector although they also show the influence of powerful investors in the Central Bank’s decision-making process.
Interest in Syria’s securities exchange declined further last month, while two stocks alone attracted more than half of the limited trading.
New taxes by the Ministry of Finance are increasing significantly the price of gold, an important store of value for Syrian households.
The Syrian pound has fallen to its lowest level in a year relative to the dollar and is now close to crossing the 500 mark in the black market.
The Damascus Securities Exchange continued to attract very few investors in October as the daily value of shares traded did not cross the equivalent of USD 182,000.
The U.S. Treasury has finalized a settlement with JP Morgan Chase Bank (JPMC) for its breach of various sanctions regulations and highlighted its transactions with some Syrian individuals under sanctions.
Syria’s insurance companies generated SYP 17.4 billion in premiums in the first half of this year, according to the Syrian Insurance Supervisory Commission.
Syria’s anti-money laundering and combating the financing of terrorism commission issued recently its annual report.
The main index of the Damascus Securities Exchange gained slightly last month as the number and value of transactions also increased.
A state-owned bank has announced that it had succeeded in selling several real estate properties used as collaterals for loans it extended to its defaulting clients.


Syria: Progress & Potential
BIS Conference Centre, 1 Victoria Street, London SW1
Tax Revision Committees
Damascus Chamber of Commerce