Central Bank of Syria (427)

Syria moves closer to first stock market
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.

 

REB issues CDs, T-Bills to follow
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.

Fransabank receives preliminary approval to start operations in Syria
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.
Syrian pound remains stable, but shaky
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...

2006 Budget brings deficit to SYP 58.9 billion
15-11-2005

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

Commercial Bank of Syria to offer soft loans
15-09-2005

Dureid Dergham, Director-General and Chairman of the Board of Directors of the Commercial Bank of Syria (CBS) has announced that Syria’s largest bank has started offering medium to long-term loans to individuals as well as to the private sector ...

CB to have money dealers law soon
15-09-2005
The Central Bank of Syria (CB) is preparing a money dealers law, the CB's governor Adeeb Meyala told the Syrian daily newspaper Al-Thawra.
Syria's top economists call for critical reforms
15-09-2005
Syria’s most respected economists delivered a harsh verdict on the state of the country’s economy, calling for radical reforms to the public sector and financial management in a series of discussion papers presented at the special meeting o...
CB Governor: no plans to float the Syrian Pound
01-08-2005
The Central Bank of Syria (CB) has no plans to float the Syrian Pound as the country’s foreign currency reserves are “very comfortable” and the level of exchange with international markets remains comparatively low, the Governor of th...
Central Bank moves to ease credit
16-03-2005

The Central Bank of Syria announces a series of measures to ease lending to investors. These include some ground breaking measures such as the authorization for Syrian banks to extend credits in foreign currencies to local importers.

Economic consequences from Lebanon withdrawal remain limited
16-03-2005
The current pressure to drive Syria out from Lebanon has started to have some effects on economic relations between the two countries.
Mayaleh, new Central Bank Governor
10-01-2005

The Central Bank of Syria has a new Governor, Adib Mayaleh. Mayaleh was appointed by a Presidential decree issued on January 2.

Western Union expands network
01-08-2004
Western Union (WU), the world-wide money transfer services company, is expanding its network in Syria.
US sanctions behind SocGen's suspension of Syrian bid
01-07-2004
Société Générale's (SocGen) bid to enter the Syrian market has been suspended, with the US imposed sanctions on Syria rumoured to be the main reason behind that move.
IBTF starts operations
01-07-2004
The International Bank for Trade and Finance has finally started operations after its inauguration ceremony held on June 6.
A bumpy start for the banking sector
01-02-2004
The first few weeks of private sector activity have appeared somehow bumpy for the Syrian banking sector. Indeed, two major controversies have already marked the beginning of the year.
Finance briefs
01-02-2004
According to Zone News, an Arabic language portal, 50 foreign banks have forwarded applications to open a branch in Syria.
Editorial: Central Bank's Mistakes Must Help Set New Rules
01-02-2004

The management by the Central Bank of Syria (CB) of its rates policy has been at best, very, very erratic.

Interest rates go down
01-01-2004
The Credit and Monetary Council (CMC), the highest financial authority in the country has brought down interest rates charged and paid by the country's state banks.
Private Banks have started operations
01-01-2004
The opening ceremony of the Bank of Syria and Overseas (BSO), also known by its French acronym, Banque de Syrie et d'Outre-Mer, was held on Wednesday, 7 January.
Authority over Central Bank switches to PM office
01-11-2003
The supervising authority over the Central Bank of Syria has been transferred to the Prime Minister, following a decision issued by him.
France's Societe Generale set to become first non-Arab bank to enter Syrian banking market
01-02-2003
Societe Generale (SG), one of France's leading commercial banks, is set to become the first non-Arab bank to enter the Syrian banking sector.
Five Banks receive preliminary approval
01-01-2003
The Syrian Government announced late December that five banking investment projects had received a preliminary approval to open what will be the first private banks in the country in over forty years.
Dallah al-Baraka has applied for the set up of a private bank in Syria
13-05-2002

Salah Kamel, head of the Saudi Dallah Al-Baraka conglomerate has announced that it had forwarded an application for the set up of a private bank in Syria.

Societe Generale to enter Syrian market
14-02-2002
Societe Generate, one of France's leading commercial banks, is studying with the Syrian government the project of setting up a banking network in the country.
Industrialists ask for a drop in interest rates
21-01-2002
Industrialists have forwarded a request to the Ministry of Industry, to drop interest rates charged on credits allocated to them.
Industrialists ask for a drop in interest rates
21-01-2002
Industrialists have forwarded a request to the Ministry of Industry, to drop interest rates charged on credits allocated to them.