Cham Wings, a private airliner, Russian banking executives and Rami Makhlouf-owned companies are among 23 new entities and individuals blacklisted by the American administration.
The appointment of a new governor at the Central Bank of Syria has coincided with a new increase of the value of the US dollar in the Syrian foreign exchange market.
Updated on July 05: A new Government was formed in Syria on Sunday, the first in two years.
Dureid Dergham, the General Manager of the Commercial Bank of Syria, has been sacked on claims of mismanagement and embezzlement of funds, charges he strongly denies.
On Thursday in a significant diplomatic development, the US and its European allies called upon Syrian President Bashar al-Assad to step down from power. The move was met with repugnance on the part of the Syrian government.
Syria’s mobile phone industry, the country’s most lucrative business sector, is to be overhauled as the Government announces the launch of a bidding round for a third operator as well as the sale of a license to the existing two operators.
The Commercial Bank of Syria is offering housing loans for the first time in its history.
Profits at the Commercial Bank of Syria stood at SYP 40 billion in 2008, according to its Managing Director, Dureid Dergham.
Several new individuals have been named by PM Naji Al-Otri to chair the Board of Directors of the six state-owned banks and of the Syrian Insurance Company.
CBS assets stood at USD 20 billion at the end of 2005, of which USD 10 billions are liquid, according to Dureid Dergham, its Director-General in an interview with al-Thawra.
The US Treasury ordered on March 9 all commercial banks in the United States to end their relationships with the Commercial Bank of Syria (CBS) and its Lebanese subsidiary, the Syrian Lebanese Commercial Bank.
According to preliminary estimates the Commercial Bank of Syria has posted profits of SYP 17 billion (USD 327 million) in 2005, Doureid Dergham, the director-general of the bank, said. CBS had recorded profits of SYP 16 billion in 2004. Meanwhile total...
The Syrian Government and all state institutions and companies will use Euros instead of US dollars in their foreign exchange dealings, following a Government decision on 14 February.
The Syrian pound remains shaky as the country’s political perspectives remain very cloudy. On November 30th, the US dollar was selling at SYP 57.75, lower from its peak of SYP 60.00 it reached on the 24th of the month but yet stronger than the ra...
Dureid Dergham, Director-General and Chairman of the Board of Directors of the Commercial Bank of Syria (CBS) has announced that Syria’s largest bank has started offering medium to long-term loans to individuals as well as to the private sector ...
The Commercial Bank of Syria posted net profits of SYP 16.61 billion (USD 319.5m) in 2004, according to Dureid Dergham, the Director-General of the Bank.
The Central Bank of Syria announces a series of measures to ease lending to investors. These include some ground breaking measures such as the authorization for Syrian banks to extend credits in foreign currencies to local importers.
The Insurance Supervision Commission has been speeding its works towards the issuance of a new Law reorganizing the insurance sector in the country and allowing the activities of private sector insurance companies in the country.
The Commercial Bank of Syria is to start issuing Visa cards before the end of January, according to its Director-General, Dureid Dergham.
Mohammad al-Hussein, Syria's Minister of Finance has asked the United States to scrap sanctions imposed by the US Treasury on the Commercial Bank of Syria (CBS).
Dureid Dergham, Director-General of the Commercial Bank of Syria (CBS), has denied that his bank holds any account for former members of the deposed Iraqi regime.
The Commercial Bank of Syria has awarded to Morocco's S2M a contract to issue Visa cards.
The Commercial Bank of Syria (CBS) will be issuing Visa credit cards before next autumn according to Dureid Dergham its Director-General.