Syria’s stock market index declined last week for the first time in several weeks as investors cashed in gains from the Cham Bank stock.

Starting August 4, the number of weekly sessions at the Damascus Securities Exchange will increase to four.

Shares of Cham Bank were traded for the first time in the Damascus Securities Exchange last week.

The Syrian stock market index crossed last week the 1,300 level, for the first time in three years, although in real terms stock prices remain well below their levels of 2011.

The value of trading at the Damascus Securities Exchange declined by half last week and its main index remained unchanged.

Syria International Islamic Bank has bought a minority share in Al-Aqeelah Takaful Insurance Company.

Arab Bank Syria has announced the resignation of a board member only a few weeks after his election.

Bank of Syria and Overseas has announced the appointment of a new general manager.

Following other banks, IBTF provided last week an assessment of the losses incurred in its Homs branch, located in the area previously under the control of the opposition.

Shares in Syria International Islamic Bank gained last week and attracted investors’ interest on the back of the removal of the company from the European Union sanctions list.



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