Two new private Syrian banks are applying to offer financial intermediation services.
The Syrian Islamic Insurance Company, a takaful insurance firm, has become the third Islamic and the twelfth private insurance firm to receive a license to operate in the Syrian market.
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.
Shuaa Partners, the private equity arm of Shuaa Capital, has announced that it had successfully closed a USD 100 million Syria-dedicated investment fund.
The Minister of Finance, Mohammad Hussein, laid on December 5 the foundation stone of the building that will host the Damascus Bourse, and the Syrian Commission on Financial Markets and Securities.
Insurance premiums reached SYP 6.61 billion in the first three quarters of this year, according to the latest statistics from the Syrian Insurance Supervisory Commission.
Syria Gulf Bank is completing its capital increase through a public subscription offer that started on December 1 and will last until December 20.
The minority partner in Bemo Saudi Fransi Finance, a financial intermediary firm that received a preliminary license from the Syrian Securities Authority, is the Fadel Group.
Assets of commercial banks continued to grow in the first half of this year on the back of a strong increase in the balance sheets of private banks.
Bemo Saudi Fransi Finance has been granted a preliminary licence by the Syrian Commission on Financial Markets and Securities to operate as a financial broker. BSF Finance will have a capital of SYP 300 million.
The opening of the Damascus Stock Exchange has been postponed to an indefinite date, according to Rateb Al-Shallah, Chairman of the Board.
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 International Bank for Trade and Finance has launched a public subscription offer that ends on December 2.
The Syrian Commission on Financial Markets & Securities has given a new preliminary license to a brokerage firm.
Abu Dhabi Securities Market (ADSM) will provide technical and financial support to the Damascus Stock Exchange following an agreement between the two institutions.
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