A new law has been enacted in Syria establishing a banking court that will judge all lawsuits related to the banking sector and serve as a means for banks to recover faster debts owed by their clients.
After holding steady for several weeks the Syrian Pound lost again last week some ground relative to the U.S. dollar.
Adib Mayaleh, the governor of the Central Bank of Syria, who also answers to the French name of André Mayard, lost a bid to remove sanctions imposed on him by the European Union.
The Syrian bourse saw last week the beginning of trading on Al-Baraka Bank Syria, the latest stock to be listed in the exchange.
The DWX continued last week its slow decline, shedding 0.21 percent, although the value of trading is so low that price changes bear little significance.
The Commercial Bank of Syria, the country’s largest bank, saw a stabilization in its deposits and credits in the first three quarters of this year.
At the end of last week, the DWX, the Syrian stock market’s main index, remained below the 1,300 mark, a level it has not crossed for more than a month.
Three years after the Syrian air force began bombing its own towns, the EU has decided to ban jet fuel and additives exports to Syria because “they are being used for indiscriminate air attacks against civilians.”
After a weeklong break, investors resumed trading in the Syrian bourse last week.
In the last two weeks, the value of the Syrian pound stabilized in the foreign currency market as the Central Bank of Syria continued to sell dollars.
United Insurance Company, a private insurance company, said that it replaced one of its directors because of repeated absences from board meetings.
Trading in the Syrian bourse last week recorded one of its lowest levels since its establishment five years ago.
The Syrian pound is continuing to lose ground against the dollar, in spite of significant interventions by the Central Bank in the Syrian currency market.
Around half of Syria’s listed stocks were traded last week although few transactions involved meaningful amounts.
Dama Rose Hotel
Syrian International Microfinance & Banking Exhibition 2015
Dama Rose Damascus Hotel