Central Bank of Syria (442)

01-04-2020

Syria devalued the exchange rate it uses for a broad set of transactions and eased the sale of dollars used to fund key imports last week, as the government seeks to battle both the Covid-19 pandemic and the consequences of the collapse of its currency.

01-04-2020

On March 30, the Ministry of Health announced the death of a second person from the Coronavirus, out of a total of ten positive cases, while the government added new measures to limit the spread of the virus.

01-04-2020

Share prices in the Damascus Securities Exchange were impacted last month by the spread of the Coronavirus, with trading reduced to one day per week.

25-03-2020

The Central Bank of Syria raised SYP 92.2 billion through certificates of deposit it issued yesterday and sold through an auction.

25-03-2020

Updated on March 31, 2020: Syria reported its first cases of Coronavirus and accelerated preparations to limit the spread of the pandemic and mitigate its economic, social and health impacts, as the dollar gained almost 20 percent in the black market.

18-03-2020

The list below includes all the Syrian individuals, entities, aircrafts and vessels that have been put under sanctions by the U.S. Administration since 2005.

17-03-2020

In this 4,000-word factsheet we provide an overview of Syria's renewable energy sector with a list of the main investment projects so far and the text of the renewable energy strategy adopted by the government last year.

11-03-2020

The government’s decision to increase the price of fertilisers will impact the agricultural sector, which is already facing various other challenges.

11-03-2020

Updated on March 25, 2020: The Central Bank of Syria is issuing new certificates of deposit to raise funds for the government and is also easing restrictions on cash transfers in and out of the country in a bid to attract more foreign currencies.

04-03-2020

The annual percentage change in the consumer price index in Syria since 2010.

04-03-2020

The Central Bank of Syria has said that it repaid the certificates of deposit it issued last year. The payment was made on their maturity date of February 23.

19-02-2020

The list below includes the names of all the individuals that have been blacklisted by the European Union since the beginning of the Syrian uprising in March 2011.

19-02-2020

The list below includes the names of all the Syrian entities that have been blacklisted by the European Union since the beginning of the uprising in March 2011.

12-02-2020

The Central Bank of Syria has expanded the use of a devalued exchange rate as it seeks to lower pressure on the pound in the black market.

12-02-2020

The Syrian government has adopted several decisions to ease import trade finance, put a lid on inflation and reduce pressure on the Syrian currency.

10-02-2020

A full breakdown of Syria's 2020 budget with current and investment expenses detailed for each item in the budget.

05-02-2020

The Central Bank of Syria has issued the implementation instructions for the government’s recent decision requiring that the sale of real estate properties and cars be conducted through the banking system.

29-01-2020

The Syrian Grain Establishment has cancelled two tenders for a total of 350,000 tons of soft milling wheat, an indication that it is facing payment difficulties.

29-01-2020

The Commercial Bank of Syria, the country’s largest bank, has slightly decreased the interest rates it pays on USD time deposit accounts.

22-01-2020

Syrian authorities have announced new penalties for dealing in foreign currencies and closed more than a dozen foreign exchange companies, but also offered a more attractive rate to buy dollars. However, these moves have little chance of stopping the freefall of the Syrian pound.

22-01-2020

The credit and monetary council of the Central Bank of Syria has announced that it will issue new certificates of deposits denominated in Syrian pounds this year.

15-01-2020

The Caesar sanctions bill that was signed into law late last year by the U.S. President will have significant medium and long-term consequences on the Syrian economy, but its shorter-term impact will be less meaningful.

15-01-2020

The value of the dollar in the Syrian foreign exchange market crossed the highly symbolic level of 1,000 pounds this week and is unlikely to retreat any time soon.

08-01-2020

Syria has awarded a Russian company a new offshore oil exploration contract as part of a set of new investment and trade agreements between the two countries.

11-12-2019

The Syrian government has further reduced the list of imported goods it will finance at a favourable exchange rate, risking an increase in the price of some key commodities.

11-12-2019

The Central Bank of Syria has introduced a new exchange rate for international organisations operating in Syria, allowing them to change dollars into pounds at a rate well above the official price.

04-12-2019

There was panic in the Syrian foreign exchange market this week as the dollar climbed to nearly 1,000 pounds before retreating slightly.

04-12-2019

The Ministry of Economy and the Central Bank of Syria have tightened the conditions to obtain an import licence as they seek to reduce the sale of foreign currencies.

27-11-2019

The Syrian government has significantly increased the salaries of civil servants, a move that will provide welcome short-term relief, but will also accelerate inflation and the depreciation of the currency.

20-11-2019

The economic situation in Syria is growing increasingly chaotic as the Syrian pound continues its freefall and prices rise.

13-11-2019

The dollar has crossed the 700-pound level in the Syrian foreign exchange market for the first time on record.

13-11-2019

Syria’s wheat purchasing body has cancelled a wheat import tender as the government cited difficulties paying importers.

30-10-2019

The US dollar has gained almost 5 percent in the space of a month in the Syrian foreign exchange market, a confirmation that the latest plan by the authorities to prop up their currency has failed.

16-10-2019

Only a few days after ordering a freeze on the bank accounts of several prominent investors, the Central Bank of Syria reversed its decision, increasing uncertainty and making it very hard to understand its strategy.

09-10-2019

The Central Bank of Syria has ordered a freeze on the bank accounts of Tarif Al-Akhras, one of the country’s most powerful businessmen and a relative of Asma Al-Assad, as well as on those of several other prominent businessmen, a move that seems to confirm the government’s increasing pressures on the business community.

02-10-2019

The Central Bank of Syria has restricted further the list of imported products that it allows banks to finance, reflecting the severe shortage of dollars the country is facing.

02-10-2019

An attempt by the government to push local investors to sell their dollars in order to support the Syrian pound has only highlighted the unpreparedness of the Central Bank of Syria, has little chance of success and risks alienating these businessmen.

25-09-2019

The Syrian authorities are putting more pressure on Syriatel, the country’s largest private sector company, The Syria Report has learned.

25-09-2019

The Central Bank of Syria is trying to push Syrian businessmen to hand over their dollars as part of its drive to curb the depreciation of its currency.

18-09-2019

Syria’s gold market remains disrupted by tensions between goldsmiths and the Ministry of Finance, unstable prices and the spread of unmarked gold.

18-09-2019

The Central Bank of Syria has issued a circular to local banks asking them to restrict credit facilities they grant to importers, an additional sign of the pressures faced by the economy.

03-09-2019

The Syrian pound has fallen to its lowest level on record relative to the U.S. dollar in the local foreign exchange market.

31-07-2019

Several security incidents affected Syrian financial companies located in government-held areas, highlighting the continued insecure environment for businesses.

31-07-2019

Syria’s commission for combating money laundering and the financing of terrorism has issued its 2018 annual report.

24-07-2019

The government is forcing importers to sell part of the products they import to state entities at cost price in bid to limit inflation on consumer goods.

17-07-2019

Syria’s inflation rate remained mostly flat up to August last year, according to official data.

16-07-2019

The Syrian Financial Intelligence Unit (SFIU), a body affiliated to the Central Bank of Syria, attended for the first time in years the annual plenary meeting of the Egmont Group.

16-07-2019

The Federation of Syrian Chambers of Commerce has established a new body called the Central Committee for Exports (CCE) to promote exports only weeks after the Syrian Exporters Federation was dissolved.

08-07-2019

The following decision and its implementation instructions regulate investment in Syria's tourism sector.

03-07-2019

The first private sector photovoltaic solar power plant has started producing in the Industrial City of Hessia (ICH) and has been connected to the national electricity grid, a government official has said.