The Islamic State is banning the use in its territory of any currency other than its own Dinar in an apparent bid to collect as much dollars as possible from the market before a potential withdrawal.

The Central Bank of Syria has revoked the license of one of the few microfinance institutions working in the country.

After three consecutive months of strong growth in the market index and the value of the shares traded, the Syrian stock exchange returned in April to last year’s more modest averages.

The Central Bank of Syria is reportedly considering issuing dollar-denominated treasury bonds to finance the import of energy products, a prospect that could reflect a disconnect of the financial authorities with economic and political realities.

Updated on April 20, 2017: The list of investors whose assets were recently frozen by the Syrian government has dozens of prominent names, including family members of prominent security officials.

Syria Gulf Bank has rejected the offer of Banque Bemo Saudi Fransi to buy almost half of its share capital.

In March, stock prices in the Damascus Securities Exchange continued to rise, while trading activity, albeit lower than in February, remained relatively high.

Banque Bemo Saudi Fransi has entered talks to buy a controlling stake in Syria Gulf Bank, in the first such consolidation move since the liberalisation of Syria’s banking sector in 2004.

The Ministry of Finance has obtained a freeze on the assets of dozens of the largest debtors of the country’s state-owned banks.

In February, listed securities in the Syrian stock exchange continued to rally as the market’s main index gained some 18 percent and the value of trading remained well above the monthly average of the past years.