central bank of syria (473)


Iran and Syria have signed a framework agreement for the transport of Iranian gas through Iraqi territory and onto Syria.


The massive intervention of the Central Bank of Syria has helped reduce the price of a dollar to below 200 pounds in the Syrian currency market.


Syria’s planning and international cooperation commission has a new director, Humam Al-Jazairi.


The composition of the credit and monetary council has been amended and new members appointed as the Central Bank of Syria faces numerous challenges.


After a week which saw it cross the 300 pound level, the US dollar dropped following the intervention of the Central Bank.


Facing growing difficulties to supply foreign currencies to the market and as inflation continues to increase, the government imposed last week severe restrictions on import trade by the private sector.


Adib Mayaleh, the governor of the Central Bank of Syria, received kickbacks from an Austrian money-printer for the award of contracts, according to Vienna prosecutors.


The Syrian government is paying some USD 500 million every month to import oil products, the minister of petroleum and mineral resources said.


The Central Bank of Syria has cancelled the license of two foreign exchange bureaus for breaching the law.


The total volume of concessionary loans provided by Iran to Syria amounts to USD 7 billion, according to the governor of the Central Bank of Syria, the first such admission by a senior government official.


The value of the US dollar continued to rise in the Syrian currency market, reaching 150 pounds last week before slightly receding today.


The Central Bank of Syria has raised the formal price of the US dollar, a move that is likely to increase again the cost of imported products and, hence, inflation.


The governor of the Central Bank of Syria has said that the USD 1 billion credit line recently received from Iran was helping his institution defend the Syrian Pound.


Bank Al-Sharq has appointed two new directors replacing board members that had resigned in previous months.


The dollar surged 12 percent in the black market in the last week, while the lack of response from the Central Bank raises fears of a continued decline of the Syrian currency.


The Central Bank of Syria devalued further the price of the Syrian Pound which crossed the level of 82 pound per dollar on Thursday and of 83 pounds per dollar on Saturday as the differential with the black market rate stands at some 15 percent.


The number of projects licensed last year by the Syrian Investment Agency declined 75 percent on an annual basis.


The Central Bank of Syria is trading for the first time the US dollar at above 80 pounds, while the value of the Syrian currency in the black market has remained stable for around a month.


The Real Estate Bank posted only a sharp decline in its customers’ deposits and credit portfolio last year, according to its general manager, although the bank’s real financial position remains unclear.


A US official has cautioned Russian banks against dealing with their Syrian blacklisted counterparts, Reuters has reported.


The dollar crossed the 100 pound threshold in black market trading this week in Damascus.


The Syrian Prime Minister has appointed the five remaining members of the board of directors of the Damascus Securities Exchange.


Updated December 03: The Syrian pound is losing further ground against the US dollar in both the black and formal markets.


The Central Bank of Syria has licensed a new foreign exchange company, Ayyoub Exchange.


The Syrian Pound continues to face pressures in the currency market in spite of an easing on foreign exchange transactions by the Central Bank of Syria.


Russia sent more than 240 tons of cash to Syria last summer, according to a press report, in an additional confirmation of the continued support of the Russian authorities to their Syrian counterparts.


The value of the Syrian Pound fell at one point last week to around 90 pounds to the dollar in black market trading before regaining some of the lost ground early this week as the Central Bank of Syria appears to loosen trading restrictions.


Syria’s stock exchange index fell for the first time below the 800 mark last week as trading continued to remain limited to a handful of stocks.


QNBS has posted a loss in the third quarter of this year as deposits and loans declined.


Pressure remained strong last week on the Syrian Pound, which fell at one point to 75 for a dollar, although it has since slightly receded.


Syria’s 2013 budget will use an exchange rate of 60 pounds per US dollar, a decrease of around 10 percent compared to this year.


Bank of Syria and Overseas has announced that an armoured van transporting cash from one of its branches in the city of Aleppo was robbed on August 12, a reflection of the deteriorating security situation across the country.


A new government was formed in Syria on June 23 with the appointment of twenty new ministers and the establishment of five new ministries, including one for national reconciliation.


The governor of the Central Bank of Syria has denied press reports that Syria was printing money to finance its deficit, claiming that new banknotes would enter the market to replace worn-out bills.


The appointment of Nabil Hshaimeh as chief executive officer of Banque Bemo Saudi Fransi, Syria’s largest private sector conventional bank, has been confirmed by the Central Bank of Syria.


Mohammad Jleilati, the Minister of Finance, has said that his government was finalising discussions with Russia to print money there, a move that signals a potentially growing economic dependency of the Syrian government towards Moscow.


The Central Bank of Syria has licensed a new foreign exchange company under the name of Al-Jadda with a capital of SYP 250 million.


The Syrian Pound is remaining stable in the local currency market as the Central Bank of Syria gradual pushes its official rate closer to the black market level.


Book of conditions to be purchased from company (EUR 100)


The Central Bank of Syria has announced that it gave permission to two local micro-finance institutions to open branches in Damascus and its suburbs.


The Central Bank of Syria has licensed a foreign exchange bureau established by the Tellawi family.


The Syrian Pound regained significant strength in the foreign currency market in the last ten days following repeated interventions by the Central Bank of Syria and renewed prospects for a political settlement in the ongoing crisis.


The European Union has added 12 persons, including the spouse of the Syrian President, and two companies to the list of people and institutions facing an asset freeze and a travel ban.


Syria International Islamic Bank has announced that an armoured van carrying cash from one of its branches in the north-east of the country was attacked in only the second such case since the beginning of the Syrian uprising last year.


The Central Bank of Syria has licensed two new foreign exchange bureaus to be based in Damascus.


The US dollar crossed the 105 pound threshold in black market trading in Damascus on March 8, rising by some 31 percent in less than a week as its official rate remains unchanged.


The US Dollar crossed the 80 Syrian Pounds level in black market trading at the end of last week and has remained above it since then, as economic and social difficulties continue to pile on Syrians.


The Syrian Government has decided to carry barter deals to circumvent the impact of international sanctions on the Syrian economy, according to a local newspaper.


Syria’s stock market index fell by 1.69 percent this week, its steepest weekly decline in three months in the wake of EU sanctions on the Central Bank of Syria and a continued deterioration in the political and economic environments.


The seven new Syrian individuals on whom the European Union imposed sanctions on Monday have been named, while a prominent businessman has been taken off the blacklist.