Adib Mayaleh (102)

25-03-2013

The governor of the Central Bank of Syria has said that the USD 1 billion credit line recently received from Iran was helping his institution defend the Syrian Pound.

17-12-2012

The US dollar crossed again the 90 pounds level this week in the Syrian informal currency market.

26-11-2012

Russia sent more than 240 tons of cash to Syria last summer, according to a press report, in an additional confirmation of the continued support of the Russian authorities to their Syrian counterparts.

19-11-2012

The value of the Syrian Pound fell at one point last week to around 90 pounds to the dollar in black market trading before regaining some of the lost ground early this week as the Central Bank of Syria appears to loosen trading restrictions.

11-11-2012

Updated November 11: The official exchange rate of the Syrian Pound crossed on November 6 for the first time the level of 70 pounds per dollar as pressure on the Syrian national currency increased.

24-09-2012

Pressure remained strong last week on the Syrian Pound, which fell at one point to 75 for a dollar, although it has since slightly receded.

23-07-2012

The American Administration has added 35 new names of Syrian individuals and institutions to its sanctions list, while the EU announced new measures against the Syrian government.

18-06-2012

The governor of the Central Bank of Syria has denied press reports that Syria was printing money to finance its deficit, claiming that new banknotes would enter the market to replace worn-out bills.

23-04-2012

The Syrian Pound has remained stable in the last two weeks, trading at around 70 pounds per dollar in the black market, as the Central Bank attempts to bring closer slowly, but gradually, its official rate.

27-02-2012

Syria’s Central Bank has lowered interest rates on time deposits by up to 2 percent in response to pressure from the business community and banks but at a time of high inflation.

01-02-2012

Less than ten days after he was quoted as saying that a partial float of the Syrian Pound was underway, the Governor of the Central Bank of Syria said on Tuesday that there was no such plan and that press reports on the subject were based on fiction.

28-11-2011

Updated November 28: The value of the Syrian Pound to the US Dollar fell to around 56 in black market trading last week, or some 12 percent off its regulated price, as political and economic pressures continued to mount.

21-11-2011

The Central Bank of Syria sold through an auction some USD 15 million in foreign currencies last week as it attempts to counter pressures on the Syrian Pound.

31-10-2011

Updated November 7 Syria’s Central Bank held on Thursday its first auction of US dollars and sold the American currency at a rate of SYP 51.30 or some 4 percent lower the market rate it sets.

10-10-2011

Only a few days after it imposed a wide scale ban on imports, the Syrian government reversed its decision, confirming that it had no clear economic strategy without dispelling fears on the state of the country’s foreign currency reserves.

03-10-2011

Following growing outcry from Syria’s business community, the Syrian government has decided to expand the list of products exempted from the import ban announced on September 23.

12-09-2011

Syria's economy will grow by one percent this year, according to Mohammad Jleilati, Minister of Finance, in the first such estimate by a Syrian official since the beginning of the unrest in the country in March.

29-08-2011

Syria has spent USD 2 billion since mid-March defending its national currency, according to Adib Mayaleh, the governor of the Central Bank, who denied rumours of Iranian help to support his country’s economy.

04-07-2011

The Central Bank of Syria has closed some 30 foreign exchange bureaus and companies since the beginning of the unrest and associated pressure on the national currency, according to Adib Mayaleh, Governor.

30-05-2011

The Governor of the Central Bank of Syria said that deposits in the banking sector had risen by 3.2 percent in the first half of May, compared to the same period of April, reversing a decline that had begun in mid-March.

05-05-2011

The Central Bank of Syria has announced a 2 percent average increase in interest rates in a bid to prop up the national currency.

29-03-2011

 Syria’s financial industry has posted another year of significant growth across all sectors, according to the latest Syria Report business guide, Corporate Syria: Banking and Finance 2009.
The global financial and economic crisis appears not to have impacted significantly the industry, the report says.

27-03-2011
The Syrian financial sector performed extremely well in 2007 according to the latest annual survey of the Syria financial sector, Banking and Financial Services Syria 2008.
Assets of the Syrian Banking Sector reached USD 34 billion at the end of 2007, an annual increase of 12 percent, while net credit facilities increased by 25 percent. Private sector banks were the main drive behind this expansion as their total balance sheet increased by 60 percent.
10-01-2011

The Central Bank of Syria will seek to prioritise investment finance when devising its policies, Adib Mayaleh, the Governor of the Bank said.

05-10-2009

The Syrian Government has approved a draft text requiring local private commercial banks to increase their minimum share capital to SYP 10 billion, or some USD 217 million.

22-12-2008

The Arab Monetary Fund is providing a loan of USD 45 million to support the structural reform of Syria's banking and financial sector.

16-03-2008
Private Banks held over a third of all private sector deposits at the end of 2007, according to Adib Mayaleh, Governor of the Central Bank of Syria.
07-01-2008
The Central Bank of Syria issued on December 12 a decision putting an end to the 6 banks operating in the Free Trade Zones.
26-11-2007
The British Syrian Society organized on November 7 in London a one-day seminar on investment and business opportunities in Syria.
12-11-2007

The Central bank of Syria has announced that it had awarded a preliminary licence to the Aga Khan Agency for Microfinance to open Syria’s first Microfinance bank.

27-08-2007

Syria’s net liquid reserves of foreign currencies stand at USD 20 billion, according to Adib Mayaleh, the Governor of the Central Bank of Syria.

11-06-2007

Adib Mayaleh, the Governor of the Central Bank of Syria, has announced that the link of the Syrian Pound to the Special Drawing Rights will start in July.

26-02-2007
On February 19, the Syrian President formally issued Law N°15, which authorizes the Credit and Monetary Council, the authority in charge of supervising the banking sector, to license financial institutions that will provide small loans and micro f...
13-11-2006

Syria Gulf Bank is planning to raise its capital in the coming few weeks according to Issam Nashawati its General Manager

13-11-2006
Adib Mayaleh, the Governor of the Central Bank of Syria, has announced a new set of measures that will enter into effect early next year, during a major bank conference held in Damascus between November 3-5.
16-10-2006

Syria’s foreign assets have grown by 20 percent in the last two years according to Adib Mayaleh, the Governor of the Central Bank.

05-09-2006
The Central Bank of Syria has taken a new decision to encourage Syrian importers to conduct their business with local banks.
18-05-2006
Adib Mayaleh, the Governor of the Central Bank has confirmed that private ownership of banks would be raised to a majority of 60 to 70 percent
03-05-2006

The Syrian President has enacted a law allowing the establishment of money exchange establishments in Syria.

03-02-2006

Two major Swiss banks have announced that they have severed all business dealings with Syrian institutions and individuals.

15-11-2005
The defiant speech from the Syrian President on November 10 has led to a slide in the value of the Syrian currency amid fears that international sanctions were looming.
01-10-2005
The tensed political situation in Syria has pulled down the value of the Syrian pound before a series of measures from the Central Bank helped it recover its value.
15-09-2005
The Central Bank of Syria (CB) is preparing a money dealers law, the CB's governor Adeeb Meyala told the Syrian daily newspaper Al-Thawra.
02-07-2005
Syria took a first legislative step towards establishing its own stock exchange on June 19 when Syria’s President Bashar al-Assad issued Law No. 22 for 2005 demanding the creation of a regulatory body known as ‘The Syrian Securities and Exc...
16-05-2005
Islamic Banks have been allowed in Syria following a Presidential decree in that sense issued on May 5th.
15-04-2005
The rate of the Syrian pound to the US dollar slightly fell early April to SYP 55 to a dollar before regaining some ground.