Central Bank of Syria (422)

08-06-2009

The Central Bank of Syria has licensed two new foreign exchange bureaus and cancelled the licensed granted to a third one.

 

The Central Bank of Syria has licensed two new foreign exchange bureaus and cancelled the licensed granted to a third one.

17-05-2009

The Ministry of Finance has deposited SYP 1 billion (some USD 20.8 million) in the account of the Agricultural Support Fund opened at the Agricultural Cooperative Bank.

10-05-2009

Profits at the Commercial Bank of Syria stood at SYP 40 billion in 2008, according to its Managing Director, Dureid Dergham.

19-04-2009

The International Bank for Trade and Finance (IBTF) is increasing its capital to SYP 5 billion to raise its capital adequacy ratio and finance its expansion.

15-03-2009

The Central Bank of Syria has licensed two new money exchange firms.

15-02-2009

The global financial crisis is making access to capital more difficult for Syrian corporations, according to Louay Habbal, Managing Director of Pioneers Syria.

26-01-2009
Assets of the Syrian banking sector continued to rise in the third quarter of last year, data released by the Central Bank show.
26-01-2009
The Central Bank of Syria has licensed a new Foreign Exchange firm in Idlib.
05-01-2009

Pioneers Syria is to manage IPOs and capital increases of at least six companies in the coming few months.

22-12-2008

The Arab Monetary Fund is providing a loan of USD 45 million to support the structural reform of Syria's banking and financial sector.

01-12-2008
Syria’s GDP growth should continue at moderate to high levels in the coming years, its fiscal and current account deficits be contained at around 3 and 4 percent respectively and its CPI fall back to single digits, according to preliminary findin...
24-11-2008
The number of branches operated by private banks in Syria rose to 92 at the end of October, or a quarter of the entire banking network, according to the Central Bank of Syria.
20-10-2008

The Central Bank of Syria has granted a license to two new money exchange firms.

13-10-2008
Syrian officials do not seem to agree yet on the consequences on their economy of the financial crisis taking hold in most of the World.
29-09-2008
Syria attracted USD 885 million in foreign direct investment last year according to the 2008 World Investment Report published by the United Nations Conference on Trade and Development (UNCTAD).
18-08-2008
Aref Investment Group, a Kuwaiti holding, will begin construction works on a USD 320 million real estate development in Syria early 2009.
28-07-2008

The Central Bank of Syria has loosened its restrictions on foreign currency transfers by allowing Syrians travelling abroad to withdraw the equivalent of up to USD 10,000 from their Syrian Pound accounts.

28-07-2008

The International Finance Corporation, a subsidiary of the World Bank, is among the founding shareholders of Nour Islamic Bank, an institution under establishment in Syria.

14-07-2008
Over a year after they were first allowed to operate in the market, money exchange firms remain frustrated by the lack of regulatory progress.
07-07-2008

The Industrial Bank of Syria has changed the rates it pays its clients on deposit accounts following the decision by the Central Bank giving local banks more flexibility.

23-06-2008
The Central Bank of Syria has moved a step further towards allowing the market to assign interest rates.
26-05-2008

Syria’s first microfinance institution has received a formal license by the Central Bank of Syria to start operations.

16-03-2008
Private Banks held over a third of all private sector deposits at the end of 2007, according to Adib Mayaleh, Governor of the Central Bank of Syria.
11-02-2008
The total assets of the Syrian commercial banking sector fell slightly at the end of the third quarter of last year to SYP 1.506 billion (USD 31.37 billion) from SYP 1.521 billion at the end of the second quarter.
27-01-2008

Syria's production of cement could exceed 30 million tons per annum by the end of 2011, according to statistics from the Syrian Investment Authority and the General Establishment of Cement and Building Materials.

21-01-2008
The number of branches operated by private banks in Syria reached 68 at the end of last year, an annual increase of 58 percent.
14-01-2008
The Central Bank of Syria has announced the set-up of a clearing house for Euro and US dollar transactions.
14-01-2008
2007 saw the arrival of Islamic banks in the Syrian market for the first time ever, as well as a continued interest from traditional banks in the region.
07-01-2008
The Central Bank of Syria issued on December 12 a decision putting an end to the 6 banks operating in the Free Trade Zones.
07-01-2008

The number of foreign exchange firms operating in Syria reached 7 at the end of last year according to a listing obtained from the Central Bank of Syria.

07-01-2008

Two new private Syrian banks are applying to offer financial intermediation services.

17-12-2007

Deposits at the Commercial Bank of Syria fell by 1.9 percent at the end of the third quarter of this year compared to the end of the previous quarter, to reach SYP 398.1 billion.

26-11-2007
The British Syrian Society organized on November 7 in London a one-day seminar on investment and business opportunities in Syria.
26-11-2007
Assets of commercial banks continued to grow in the first half of this year on the back of a strong increase in the balance sheets of private banks.
12-11-2007

The Central bank of Syria has announced that it had awarded a preliminary licence to the Aga Khan Agency for Microfinance to open Syria’s first Microfinance bank.

08-10-2007

The Syrian President has issued a Law authorising the issuance of Treasury Securities by the Central Bank of Syria.

01-10-2007
The Central Bank of Syria has cancelled all the fees that it charged on money transfers between local banks and between the Central Bank and these banks.
10-09-2007

The Central Bank of Syria (CB) has given more flexibility to local banks by allowing them to fix interest rates on deposits freely, within a margin of 2 percent from its set rate.

10-09-2007
The Arab Monetary Fund has signed an agreement with the International Bank for Trade and Finance to offer a loan to help finance import and export operations of Syrian traders.
27-08-2007

Syria’s net liquid reserves of foreign currencies stand at USD 20 billion, according to Adib Mayaleh, the Governor of the Central Bank of Syria.

11-06-2007

Adib Mayaleh, the Governor of the Central Bank of Syria, has announced that the link of the Syrian Pound to the Special Drawing Rights will start in July.

16-04-2007
The German Ministry of Economic Cooperation and Development (BMZ) has announced its decision to increase the amount of assistance Germany offers to Syria to support the liberalization of the Syrian economy and the drive to attract more foreign investors
16-10-2006

Syria’s foreign assets have grown by 20 percent in the last two years according to Adib Mayaleh, the Governor of the Central Bank.

22-09-2006
The Syrian government has given a final and formal license for two Islamic Banks to operate in the country.
22-09-2006
The Central Bank of Syria has freed the setting of interest rates charged on loans by public sector banks.
17-02-2006

The nomination of the members of the Syrian Securities and Exchange Commission is bringing closer the set-up of the Damascus stock exchange.

 

17-12-2005

The Real Estate Bank has issued Syria’s first certificates of deposits. The state-owned bank is issuing CDs for the following amounts: SYP 500 000, SYP 1 000 000, SYP 5 000 000, SYP 10 000 000, SYP 25 000 000 and SYP 50 000 000.

01-12-2005
Lebanon’s Fransabank has received a preliminary approval in October from the Central Bank of Syria to launch a bank, making it the sixth Lebanese bank to possibly enter the Syrian market.
01-12-2005

The Syrian pound remains shaky as the country’s political perspectives remain very cloudy. On November 30th, the US dollar was selling at SYP 57.75, lower from its peak of SYP 60.00 it reached on the 24th of the month but yet stronger than the ra...

15-11-2005

More details have been released on the country’s 2006 budget.