Syria International Islamic Bank, an institution with Qatari strategic shareholders and that saw its assets jump 85 percent in the last quarter alone, was added to a list of companies under sanctions by the US Treasury, leading to the resignation of all its Board members.
The week at the Damascus Securities Exchange was marked by the inclusion of Syria International Islamic Bank in a list of companies under sanctions by the United States and by a general decline in stock prices.
The Damascus Securities exchange main index, the DWX, closed at 872.23 on May 23, a weekly decline of 0.17 percent, with trade volumes slightly rising.
A new company is set to enter the Damascus Securities Exchange in spite of the fact that the market continues to attract only little investment.
Week after week trading remains very limited at the Syrian stock exchange with traders losing hope of receiving any time soon clear indications to where the country is heading.
Global One, a brokerage firm based in Aleppo, held the lead in the market for stock brokering in April, for the third month since the beginning of the year.
Syria’s stock market index declined 1.1 percent last week to close at 872.02 as trading remains subdued.
Syria’s stock market index rose 1.48 percent last week to close at 881.83 on April 25 with more than half of the listed stocks being traded.
Last week saw only one trading session at the Damascus Securities Exchange because of the Easter and Independence Day as the DWX remained stable.
The main index of Syria’s stock market declined by 0.50 percent last week to close at 868.54 on April 11, after four consecutive weeks of gains.