Commercial Bank of Syria (228)

08-07-2020

The Syrian Grain Establishment (SGE) has invited grain traders to bid for the supply of 200,000 tons of soft milling wheat sourced from Russia.

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

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.

08-06-2020

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

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.

14-04-2020

In this 4,400-word factsheet, we provide a profile of the main businesses and economic institutions affiliated with the Syrian Ministry of Defence.

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.

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.

11-03-2020

The combined assets of Syrian private sector banks increased last year, but this was the result of the growth in the assets of a single bank. Rising inflation also means that in real terms assets declined.

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 Syrian entities that have been blacklisted by the European Union since the beginning of the uprising in March 2011.

10-02-2020

A full breakdown of Syria's 2020 budget with current and investment expenses detailed for each item in the budget.

29-01-2020

In this 2,700-word factsheet we provide a profile of Damascus Cham Holding, one of the largest Syrian companies that is at the heart of the controversial Marota project.

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.

15-01-2020

The Real Estate Bank has announced that it generated profits in 2019 for the second year in a row, after years of losses.

04-12-2019

The list of the 18 members of the advisory council of the government as of December 02, 2019.

04-12-2019

A decree has increased the number of members on a council that advises the Syrian cabinet on economic matters.

02-10-2019

An attempt by the government to push local investors to sell their dollars in order to support the Syrian pound has only highlighted the unpreparedness of the Central Bank of Syria, has little chance of success and risks alienating these businessmen.

18-09-2019

The reopening of a border crossing with Iraq is likely to be delayed again despite an acceleration of the preparations by the Syrian government.

08-07-2019

The following decision and its implementation instructions regulate investment in Syria's tourism sector.

09-04-2019

The Commercial Bank of Syria has announced a change in the interest rates it pays on foreign currency deposit accounts.

20-03-2019

A full breakdown of Syria's 2019 budget with current and investment expenses detailed for each item in the budget.

06-03-2019

Two state-owned banks have announced new lending schemes as the government seeks to kickstart the economy.

29-01-2019

Syria’s state banks have improved the recovery rate of their bad debts, but loans worth billions of dollars will never be paid back.

11-12-2018

Samer Foz, Syria’s most prominent businessman in past years, has expanded his business activities by buying a significant stake in the country’s largest private sector bank.

02-10-2018

A state-owned bank has announced that it had succeeded in selling several real estate properties used as collaterals for loans it extended to its defaulting clients.

25-09-2018

In a relatively surprise move, the governor of the Central Bank of Syria was dismissed yesterday.

25-09-2018

Providing guarantees for loans to SMEs and microfinance projects

18-09-2018

The Popular Credit Bank, one of six state-owned banks in the country, said that it was resuming lending to professionals.

24-07-2018

Syrian banks are expanding again their branch network as they seek to capitalize on the improving security situation across the country.

01-06-2018

In this 2,200-word factsheet we provide a profile of Marota City, the most controversial investment project in Syria.

10-05-2018

A full breakdown of Syria's 2018 budget with current and investment expenses detailed for each item in the budget.

13-02-2018

Damascus Cham Holding is establishing a new joint venture with private investors to develop several properties in Marota City, the controversial large real estate project in the Syrian capital.

07-11-2017

Despite its large portfolio of non-performing loans, the Commercial Bank of Syria has disbursed a significant amount of money to help fund infrastructure work in the controversial Basatin Al-Razi development.

21-07-2017

Updated on July 21, 2017: Syria’s private commercial banks, which saw last year their assets fall to a fraction of what they were in 2010 and now barely breakeven, are unable to finance any meaningful reconstruction drive.

23-05-2017

A full breakdown of Syria's 2017 budget with current and investment expenses detailed for each item in the budget.

12-04-2017
11-04-2017

Updated on April 20, 2017: The list of investors whose assets were recently frozen by the Syrian government has dozens of prominent names, including family members of prominent security officials.

21-03-2017

An official from the Damascus Governorate has said that dozens of companies are interested in contributing to the Mazzeh District development, although the funding for the project is still not guaranteed.

21-03-2017

The Ministry of Finance has obtained a freeze on the assets of dozens of the largest debtors of the country’s state-owned banks.

15-11-2016
Data from the Commercial Bank of Syria, Syria's largest bank, indicate that it loans almost exclusively to the public sector.

11-10-2016

The visit last week by an Iranian delegation to Damascus marks one of the first major attempts to deepen business ties between the two countries.

11-10-2016

The Damascus governorate is set to launch a new holding company to develop real estate projects in the capital.

06-09-2016

The Syrian Government is disbursing a large loan to help kick-off a controversial real estate development in Damascus after lacklustre interest from potential buyers.

04-07-2016

Updated on July 05: A new Government was formed in Syria on Sunday, the first in two years.

04-01-2016

A new law regulating the repayment of debts owed to Syria’s public sector banks was passed last week as the Government seeks to recover as much funds as possible.

13-07-2015

A new financial aid of USD 1 billion from Iran was formalized last week by a decree from the Syrian President.

13-07-2015

Our two thousand-word factsheet on the economic aid agreements signed between Iran and Syria since the beginning of 2013.