Commercial Bank of Syria (185)

21-07-2017

Updated on July 21, 2017: Syria’s private commercial banks, which saw last year their assets fall to a fraction of what they were in 2010 and now barely breakeven, are unable to finance any meaningful reconstruction drive.

23-05-2017

A full breakdown of Syria's 2017 budget with current and investment expenses detailed for each item in the budget.

16-05-2017

The list below includes all the Syrian individuals, entities, aircrafts and vessels that have been put under sanctions by the U.S. Administration since 2005.

12-04-2017
11-04-2017

The list below includes the names of all the Syrian entities that have been blacklisted by the European Union since the beginning of the uprising in March 2011.

11-04-2017

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.

21-03-2017

An official from the Damascus Governorate has said that dozens of companies are interested in contributing to the Mazzeh District development, although the funding for the project is still not guaranteed.

21-03-2017

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

15-11-2016
Data from the Commercial Bank of Syria, Syria's largest bank, indicate that it loans almost exclusively to the public sector.

11-10-2016

The visit last week by an Iranian delegation to Damascus marks one of the first major attempts to deepen business ties between the two countries.

11-10-2016

The Damascus governorate is set to launch a new holding company to develop real estate projects in the capital.

06-09-2016

The Syrian Government is disbursing a large loan to help kick-off a controversial real estate development in Damascus after lacklustre interest from potential buyers.

04-07-2016

Updated on July 05: A new Government was formed in Syria on Sunday, the first in two years.

04-01-2016

A new law regulating the repayment of debts owed to Syria’s public sector banks was passed last week as the Government seeks to recover as much funds as possible.

13-07-2015

A new financial aid of USD 1 billion from Iran was formalized last week by a decree from the Syrian President.

13-07-2015

Our two thousand-word factsheet on the economic aid agreements signed between Iran and Syria since the beginning of 2013.

13-07-2015

Our two thousand-word factsheet on the economic aid agreements signed between Iran and Syria since the beginning of 2013.

24-03-2015

Syrian banks are capitalising on a recent law to put pressure on their debtors.

22-12-2014

While the results of the visit last week to Tehran of Syrian Prime Minister Wael Halqi are not yet clear, the growing dependency of Damascus on its ally is increasingly obvious.

27-10-2014

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.

20-10-2014

The U.S. Government has blacklisted several companies based in Cyprus and Lebanon for providing material support to the Syrian Government.

04-08-2014

Almost all the lending of the Commercial Bank of Syria, Syria’s largest lender, is funding Government food purchases, according to a statement from officials from the bank.

30-06-2014

Iran’s Bank Saderat has already received USD 1 billion of funding request by Syrian state entities, reaching the ceiling of the credit line granted by Tehran to Damascus last year.

16-06-2014

Shares in Syria International Islamic Bank gained last week and attracted investors’ interest on the back of the removal of the company from the European Union sanctions list.

02-06-2014

The European Union has renewed for another year its sanctions on a vast number of Syrian individuals and companies but lifted them on a prominent businessman and one of the country’s leading private sector banks.

26-05-2014

Around half of the Iranian credit line granted to the Syrian Government last year has been spent, according to a Syrian banker.

28-04-2014

Syria’s 2014 wheat crop could fall to as low as 1 million tons according to farming experts interviewed by Reuters.

21-04-2014

The Syrian government has signed food import contracts worth EUR 230 million under an Iranian credit line granted last year.

08-04-2014

The Commercial Bank of Syria is allocating new funds to purchase the wheat crop from farmers.

16-12-2013

Syria is issuing a tender for the import of food commodities and offering to pay international suppliers through an Iranian bank, Reuters has reported.

09-12-2013

The visit to Tehran last week by the Syrian Prime Minister and a government delegation drew little apparent economic results.

18-11-2013

The Commercial Bank of Syria, by far the country’s largest commercial bank, saw a stabilisation in its balance sheet last year in Syrian Pound terms, according to its financial accounts that were released only recently.

07-10-2013

The Syrian authorities are closing the country’s foreign exchange companies as part of a clampdown on black market dealers.

30-09-2013

The foreign reserves of the Syrian government declined significantly at the end of 2011, confirming the rapid depletion of foreign currencies held by the Central Bank of Syria after the beginning of the uprising.

16-09-2013

The Commercial Bank of Syria, a state-owned bank under international sanctions, said that it generated six billion pounds in profits in the first half of this year.

26-08-2013

The Central Bank has raised the official price of the US dollar as it seeks to close the gap with the black market level of its currency.

05-08-2013

Iran and Syria formalised last week an agreement for the disbursement of some USD 3.6 billion of Iranian funds to Damascus that will be used to purchase oil products.

03-06-2013

A 40 percent rise in the assets of Islamic banks helped increase the Syrian pound value of the balance sheet of Syria’s private banking sector.

25-03-2013

The Ministry of Transport has announced that it was going ahead with a deal to purchase ten Ukrainian-made Antonov planes to expand the fleet of Syrianair.

18-03-2013

The dollar surged 12 percent in the black market in the last week, while the lack of response from the Central Bank raises fears of a continued decline of the Syrian currency.

28-01-2013

The Real Estate Bank posted only a sharp decline in its customers’ deposits and credit portfolio last year, according to its general manager, although the bank’s real financial position remains unclear.

21-01-2013

Iran is providing a USD 1 billion credit line to Syria, although around half of the amount will go to fund electricity projects developed by Iranian companies, including the construction of a power plant in the coastal area.

14-01-2013

A US official has cautioned Russian banks against dealing with their Syrian blacklisted counterparts, Reuters has reported.

10-12-2012

Provisions for bad debts at private sector Syrian banks rose sharply in the third quarter of this year as businesses faced increasing difficulties to reimburse their loans.

03-12-2012

Updated December 03: The Syrian pound is losing further ground against the US dollar in both the black and formal markets.

26-11-2012

The Syrian Pound continues to face pressures in the currency market in spite of an easing on foreign exchange transactions by the Central Bank of Syria.

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.

22-10-2012
15-10-2012

The Ministry of Finance has asked the Real Estate Bank to suspend all loans and other credit facilities in order to improve its cash position.