Trust Insurance Company officially launched its activities in Syria on June 3. TIC is the eight private insurance firm to start operations in the local market.
Three new brokerage firms, Orion Holding, Elite Financial Services and Orouba Stock Brokers, have been given preliminary licenses from the Syrian Commission on Financial Markets and Securities.
The total assets of United Insurance Company stood at SYP 980 million on December 31 2006, at the end of its first year of activity, according to its audited financial statements
Syria and Romania signed on May 18 an agreement on the resettlement of the debt owed by Syria to the former Soviet-block country.
Total assets of Arab Bank Syria reached SYP 9.62 billion (USD 188 million) at the end of last year according to the financial statements of the company
Dubai Islamic Bank has received the approval to open an affiliate in Syria
Mowaffaq Al Qaddah Group of companies (MAG) will own 15 percent of IFA-MAG Financial Services, the company being set-up in joint-venture with the International Financial Advisors group (IFA)
A joint-venture between IFA Securities and local Syrian investors has received a preliminary approval from the Stock Exchange Commission to operate as a financial intermediary firm
The Credit and Monetary Council gave on April 25 a preliminary license to six companies to operate as the first money exchange firms in Syria
The Syrian Insurance Company is already suffering from competition in spite of a growth in the size of the insurance market
Fransabank is expecting to receive the final approval to start operations in Syrian within days, according to Mr Georges Andraos, Deputy Head of International Division
The total premium collected by private insurance firms in Syria reached SYP 425 million (USD 8.5 million) last year according to the Syrian Insurance Supervisory Commission
Tadhamon International Islamic Bank, an affiliate of Yemen-based Hayel Saeed Anam Group (HSAG), has received a preliminary approval from the Central Bank of Syria to open an Islamic bank with a capital of USD 100 million
First Forum on Eco-friendly products
Damascus International Fairground