Financial data published by two private sector banks confirm the growth of bad debt provisions across the sector.
The DWX declined last week for the third consecutive week as investors largely shied away from the securities exchange.
A Presidential decree issued on Sunday has banned all commercial transactions in any currency other than the Syrian pound, in a bid to stem the decline of the local currency.
Bank Audi Syria has posted a significant improvement in its financial performance in the first half of this year on the back of the decline in the value of the Syrian pound.
Stocks fell last week in the Damascus Securities Exchange for the second week in a row.
A Presidential decree has established a Zakat Fund that is supposed to help the needy and the poor.
The increasing risks associated with transporting goods through Syrian territory have led to a sharp rise in insurance premiums.
After several weeks of gains Syrian stocks declined last week amid lower trading volumes.
The massive intervention of the Central Bank of Syria has helped reduce the price of a dollar to below 200 pounds in the Syrian currency market.
The composition of the credit and monetary council has been amended and new members appointed as the Central Bank of Syria faces numerous challenges.
Trading activity last week at the Damascus Securities Exchange remained high, in Syrian Pound terms, with the market index continuing to rise.
After a week which saw it cross the 300 pound level, the US dollar dropped following the intervention of the Central Bank.
Syria’s main stock index crossed the 1,200 mark last week after gaining in three consecutive sessions.
The Syrian Pound is continuing to decline against most international currencies and was traded in Damascus at some 240 per dollar today.
Syria’s stock exchange returned into positive territory last week with its main index gaining 1.64 percent.
Taxation in Syria
Damascus Chamber of Commerce
Damascus International Fairground