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

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.

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

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

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

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

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

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.

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.

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.

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

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.

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.

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

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.

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.

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

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.

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.

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.

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

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

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.

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...

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

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 ...