The Syrian Commission on Financial Markets and Securities has granted a preliminary license to two new brokerage firms.
Local private banks continue to post two-digit growth in all their main indicators, according to their mid-year financial statements.
Tadhamon International Islamic Bank, a Yemeni Bank, is expected to bid for a formal license in Syria within days.
Bank Audi Sal of Lebanon has announced that it had closed a USD 380 million syndicated bridge facility for the Syrian Cement Company.
The Central Bank of Syria has loosened its restrictions on foreign currency transfers by allowing Syrians travelling abroad to withdraw the equivalent of up to USD 10,000 from their Syrian Pound accounts.
The International Finance Corporation, a subsidiary of the World Bank, is among the founding shareholders of Noor Islamic Bank, an institution under establishment in Syria.
Diar Electronic Services and Hanifa Exchange have both announced losses for their operations in 2007, their first year of activity.
The Syrian Government has approved the establishment of the first commercial bank to be set-up between Syria and Iran.
A Decree issued by the Syrian President has redefined the types of companies allowed to establish a brokerage firm in Syria.
Over a year after they were first allowed to operate in the market, money exchange firms remain frustrated by the lack of regulatory progress.
Tadawolna Brokerage & Financial Services has received a preliminary approval from the Syrian Commission on Financial Markets and Securities.
The Industrial Bank of Syria has changed the rates it pays its clients on deposit accounts following the decision by the Central Bank giving local banks more flexibility.
AMAN, the Islamic Insurance affiliate of Dubai Islamic Bank, has received a formal license to operate in Syria.
Solidarity Alliance Insurance Company inaugurated on June 23 its headquarters in the upscale area of Malki in Damascus.
Assessing the Price of Imported Goods
Damascus Chamber of Commerce
First Forum on Eco-friendly products