Central Bank of Syria (462)

01-07-2020

The Syrian government has continued its campaign against Rami Makhlouf, effectively ending the operations of two more of his best-known business ventures, including his oldest and most recent ones, within a couple of days.

24-06-2020

The Central Bank of Syria has raised SYP 74.3 billion from its latest certificates of deposit issue, while some banks are restricting access to cash.

24-06-2020

The Syrian government has once again devalued its currency and reduced the number of imported items it will finance, risking an acceleration of inflation, particularly for food products.

17-06-2020

The Caesar Act has hardly been implemented before starting to make its impact felt in Syria: the withdrawal of a Lebanese company from the market has suspended the ATM networks of most private banks operating in the country.

10-06-2020

Competition for the purchase of the wheat crop is growing in Syria, with the rapid depreciation of the national currency forcing all actors to revise their prices and budgets.

10-06-2020

The Central Bank of Syria is issuing new certificates of deposit to raise cash on behalf of the government.

10-06-2020

Updated on June 17, 2020: The number of people who tested positive with the Coronavirus in Syria climbed by 23 last week to 146, up from 123 a week ago, while the number of recoveries increased to 62 from 50 and the number of deaths remained unchanged at six.

10-06-2020

The Syrian currency collapsed last week, crossing both the 2,000 and 3,000 pound-per-dollar thresholds within a few days and creating panic in the market. The consequences on living conditions in Syria will be dramatic.

03-06-2020

Stock prices and volumes jumped in May and the stock exchange announced the suspension of the Syriatel stock.

27-05-2020

The Central Bank of Syria has devalued the Syrian pound in an attempt to close the gap with the black -market rate- but the measure came to no avail, as the currency renewed its downward trend today.

20-05-2020

Syrian banks are raising their capital to meet regulatory requirements after a decision banned them from paying dividends.

13-05-2020

The Syrian government has announced that it will allocate the equivalent of 11 percent of its budget to purchase the local wheat harvest.

13-05-2020

The Syrian currency has continued its precipitous decline and is now nearing the 1,600-pound level.

13-05-2020

The Syrian government said this week that it will start disbursing money to some 20,000 unemployed people, its first financial aid programme since the spread of the Coronavirus in Syria.

11-05-2020

The rise of Rami Makhlouf as Syria’s most prominent businessman coincided with the ascent to power of Bashar Al-Assad in 2000. Given his long history of influence within the ruling elite, Mr Makhlouf’s recent side-lining raises many questions about the potential implications of his fall from grace.

06-05-2020

The Central Bank of Syria has increased interest rates on US dollar and euro time deposits to attract more foreign currency into the banking sector.

06-05-2020

On March 04, Syrian President Bashar Al-Assad headed for the first time a meeting of the task force formed to confront the Coronavirus.

27-04-2020

This article is an updated and expanded factsheet on the economic and business relations between Syria and Russia as of April 2020.

15-04-2020

The Syrian minister of health has acknowledged the minuscule number of daily Covid-19 tests being carried out, while the economic consequences of the crisis appear to be increasingly serious.

15-04-2020

Syria’s anti-money laundering commission, which is a rare financial institution in regular contact with its western counterparts, has published its 2019 annual report.

08-04-2020

The Commercial Bank of Syria has issued its 2018 annual report, shedding some interesting light on the banking sector and on the Syrian economy despite the time that has passed.

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.