Tarif Al-Akhras (58)


This table lists the main companies we have identified that are linked to the eight investors whose bank accounts were frozen on October 7, 2019.


The Central Bank of Syria has ordered a freeze on the bank accounts of Tarif Al-Akhras, one of the country’s most powerful businessmen and a relative of Asma Al-Assad, as well as on those of several other prominent businessmen, a move that seems to confirm the government’s increasing pressures on the business community.


The Federation of Syrian Chambers of Commerce has established a new body called the Central Committee for Exports (CCE) to promote exports only weeks after the Syrian Exporters Federation was dissolved.


The United States has renewed for one more year the sanctions it has been imposing on Syria from before the popular uprising.


The United Arab Emirates organized on Sunday probably the most prominent event involving Syrian businessmen outside Syria since 2011.


Iran is planning to finance the construction of a sugar refinery production line, according to the head of the state sugar production body.


Import of industrial machinery and equipment


Syrian companies were awarded dozens of millions of dollars from UN organizations last year including millions that went to companies owned by individuals under western sanctions and linked to regime militias.


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.


Syria’s sugar import bill will run in the hundreds of millions of dollars next year again, according to a government entity.


A Syrian pro-regime publication has claimed that a handful of traders control as much as 60 percent of all Syria’s import trade, a report that reflects the tensions existing between Syrian businessmen over the control of import trade.


The appeal by Samir Hassan, a leading Syrian investor, to lift sanctions imposed on him by the European Union has been rejected.


The Court of Justice of the European Union has rejected the appeal by Tarif Al-Akhras, a leading Syrian businessman, to see his name removed from the European blacklist.


Manufacturing of various products


Trading and manufacturing


Tarif Al-Akhras, one of Syria’s leading investors, was handed earlier in April a 12-month jail sentence by a British court, following a commercial dispute with one of its suppliers.


Provision of quality control services


Bank of Jordan Syria has announced the resignation of one of its board members.


Syria’s imports of white sugar remained strong last year according to government statistics.


Syria’s sugar beet output is forecast by the Ministry of Agriculture to drop by two thirds.


Brokerage, IPO Management, Investment management, Advisory


Demand for sugar fell 40 percent last year according to Tarif Al-Akhras, a major local trader in the commodity.


Nagib Assaf, a founding shareholder in National Sugar Company, one of two private refiners in the country, has announced the suspension of operations in the company because of the unrest gripping the country, as a local court asked for a freeze of his assets.


Canada has announced a new round of sanctions on Syria, becoming the first western country to ban all imports, except food, from Damascus.


The four businessmen and three corporations sanctioned by the European Union last week form part of a growing list of business actors that are feeling the weight of the international pressure on Syria.


The European Union has banned all imports of Syrian oil and sanctioned a new list of businessmen and corporations as it appears increasingly intent on using economic sanctions as its primary tool for reducing the Syrian authorities' grip on power.


Syria’s General Organization for Sugar, or GOFS, said its five refineries will produce 280,000 tons of sugar this year.


Souria Holding, one of the country’s largest holding companies, has elected a new Board of Directors that includes six new members.


Bank of Jordan Syria is a venture of Bank of Jordan, one of the largest commercial banks in Syria's southern neighbour. The bank has partnered with Tarif Al-Akhras, a businessman active in the agrofood, logistics and retail sectors. Mr Akhras owns 15 percent of the shares of BOJS through his three children,  Nora, Diana and Murhaf.


Middle East Sugar Refinery, a venture by the Akhras Group, has begun production from its plant in the Industrial City of Hessia.


Loftus, a French company specialized in the construction and management of entertainment infrastructures, has signed an agreement to build an amusement centre in Homs.


Trans Mall, a new 45,000sqm commercial mall located in Homs will open its doors next June.


Syria will have a second sugar refinery plant running within weeks, Tarif Al-Akhras, CEO of the Akhras Group said.

Shadi Karam, the Chief Executive Officer of Souria Holding, one of the largest holding firms in Syria, has resigned.

Setting up a concrete plant


General Trading and Investment


Damasquino Mall, the latest commercial mall of the Syrian capital, has announced its soft opening on December 30, 2008.


Bank of Jordan Syria has elected its 9-member Board of Directors during its founding general assembly.


Syria's first private sugar refinery, the National Sugar Company (NSC) was officially inaugurated on May 14.


Arabia Insurance Syria, National Insurance and Syrian Arab Insurance have published their 2007 audited financial results.


Bank of Jordan-Syria is organizing an Initial Public Offer (IPO) for 33.68 percent of its shares between March 16 and April 15.


The Syrian Commission on Financial Markets and Securities has given its approval for the organisation of an Initial Public Offer for the sale of a third of the shares of Bank of Jordan Syria.

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.

Souria Holding has announced that it was setting-up six subsidiary companies to invest in different business sectors.