Finance

01-11-2002
The announcement by Jordan's Housing Bank for Trade & Finance that its application to launch Syria's first private bank had been approved by the Central Bank (CBS), and that it would be granted an official licence before the end of the year came as...
01-11-2002
The Commercial Bank of Syria (CBS), the leading commercial bank in the country, announced the opening of 6 additional branches in the country in all of Tartous port, Lattakia port, Banias, Safita, Mayadin and al-Tell (Damascus countryside).
07-10-2002
In what appears to be an answer to the recent depreciation of the national currency, Syria's ministry of economy has issued a decree facilitating the purchase of Pounds by Syrian nationals.
30-09-2002
Riad Salameh, governor of Lebanon central bank (Banque du Liban-BDL) denied that the bank monetary policy was responsible for the recent fall in the value of the Syrian Pound.
23-09-2002
The end of the week has seen a drop of around 15 percent in the value of the Syrian pound, falling to as much as SYP58 per USD1 on Thursday 19, before recovering to the SYP54-55 level on Sunday 22.
16-09-2002
A delegation from German bank Hypovereinsbank (HVB) is expected to arrive in Damascus to study the possibility of applying for a licence to operate in the country, according to al-Baath, the state-owned daily.
09-09-2002
The Commercial Bank of Syria (CBS) has been granted the right to sell foreign currencies in the Syrian domestic market.
26-08-2002
Syria has accepted to start negotiations with Bulgaria on the paying off of its debt.
26-08-2002
Syrian officials have denied that a license had been granted to a foreign bank to operate in the country.
19-08-2002
Syrian residents and non-residents are now allowed to open accounts in foreign currencies at the Commercial Bank of Syria and to feed them with wire transfers, foreign banks cheques and bank notes.
05-08-2002
The Syrian state-run insurance company, the Syrian Insurance Company (SIC), posted a net profit of SYP1.882 billion (USD37.6 million) in 2001, Teshreen said.
05-08-2002
Deposits at the state-run Commercial Bank of Syria (CBS) rose to SYP475.2 billion (USD9.504 billion) at the end of 2001 from SYP423 billion (USD8.460 billion) at the end of 2000, reported Teshreen.
29-07-2002
Syria recently completed the requirements needed to join the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, making it the agency's 156th member.
29-07-2002
According to al-Hayat, the private banking sector in Syria has suffered a new setback with licenses not expected before the first quarter of next year.
05-07-2002
The Syrian government is projecting to inject around SYP10 billion (USD200 million) in the coming three years into the state-owned banking sector in order to upgrade it reported Teshreen.

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