Central Bank of Syria (379)

10-04-2019

A very rare public spat has highlighted tensions between Samer Foz and Rami Makhlouf, Syria’s two most powerful business cronies.

09-04-2019

The Commercial Bank of Syria has announced a change in the interest rates it pays on foreign currency deposit accounts.

03-04-2019

Noor Microfinance, Rami Makhlouf’s latest venture, is set to start its operations.

27-03-2019

The following is the OFAC advisory warning actors of the global maritime industry involved with supplying oil to Syria. This text is published following its update of March 25, 2019.

26-03-2019

Several Syrian banks have reopened a branch in the southern city of Daraa as they start a slow expansion of their network.

20-03-2019

The details of the Syrian budget, which we publish this week, shed some light on the government expenditure structure, but also on some misleading numbers.

20-03-2019

The Syrian pound has continued to slide in the foreign exchange market and has lost some 2.6 percent relative to the dollar since the beginning of the month.

20-03-2019

A full breakdown of Syria's 2019 budget with current and investment expenses detailed for each item in the budget.

12-03-2019

Syria's Central Bank has raised interest rates on time dollar and euro deposit accounts by 1 percent to attract more deposits in the banking system.

06-03-2019

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

06-03-2019

Two state-owned banks have announced new lending schemes as the government seeks to kickstart the economy.

27-02-2019

The relatively stable situation in most of Syria has reflected positively on the performance of Syrian banks, which have broadly reported an improvement in their financial results last year.

27-02-2019

The Central Bank of Syria has raised SYP 130.8 billion, USD 244.5 million at the current market exchange rate, for its first issue of certificates of deposit.

06-02-2019

The Central Bank of Syria has announced that it will issue certificates of deposits later this month for the first time in its history, as the government seeks to raise funds to pay for its expenses.

05-02-2019

The Syrian pound is resuming its downward slide and has already lost some six percent of its value relative to the dollar since the beginning of the year.

29-01-2019

Syria’s state banks have improved the recovery rate of their bad debts, but loans worth billions of dollars will never be paid back.

22-01-2019

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.

11-12-2018

Several decisions issued by the Central Bank of Syria will increase lending by, and credit risks for, the banking sector although they also show the influence of powerful investors in the Central Bank’s decision-making process.

27-11-2018

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.

13-11-2018

The Syrian pound has fallen to its lowest level in a year relative to the dollar and is now close to crossing the 500 mark in the black market.

23-10-2018

Syria’s 2019 budget is planned to increase by some 21.8 percent on an annual basis.

09-10-2018

Syria’s PM, Imad Khamis, visited last week the two coastal provinces of Tartous and Lattakia where he inaugurated a host of projects including the first government project or building to be named after Bashar Al-Assad.

02-10-2018

Syria’s anti-money laundering and combating the financing of terrorism commission issued recently its annual report.

02-10-2018

A state-owned bank has announced that it had succeeded in selling several real estate properties used as collaterals for loans it extended to its defaulting clients.

25-09-2018

In a relatively surprise move, the governor of the Central Bank of Syria was dismissed yesterday.

18-09-2018

The Popular Credit Bank, one of six state-owned banks in the country, said that it was resuming lending to professionals.

04-09-2018

The Credit and Monetary Council of the Central Bank of Syria has changed the interest rates banks pay on their customers’ deposit accounts.

04-09-2018

In a public meeting, the Syrian Prime Minister gave a bleak assessment of the impact of the war on the country’s foreign currency reserves and economic assets.

07-08-2018

The government has allowed the Central Bank of Syria to issue certificates of deposits denominated in dollars.

12-07-2018

In this 2,600-word factsheet we look at China’s economic interests in Syria.

03-07-2018

The Ministry of Tourism has granted a license for the management of a boutique hotel in central Damascus to a UAE company.

15-05-2018

The Syrian Government has removed the name of this prominent overseas businessman from its blacklist potentially indicating his return to the country.

10-05-2018

A full breakdown of Syria's 2018 budget with current and investment expenses detailed for each item in the budget.

27-02-2018

The European Union has added two Syrian government members to its blacklist, the first such addition in months.

23-01-2018

Only days after allowing local banks to resume lending, the Central Bank of Syria has partly backtracked on its decision for fear of pressures on the pound.

16-01-2018

Updated on February 02, 2018 (see bottom for details on updates): A new Syrian investor has signed an agreement to invest in the Basatin Al-Razi real estate area near Damascus.

09-01-2018

Preliminary data from Syrian officials indicate that tax revenues increased last year, as a consequence of an improvement in economic activity and tax collection, although they remain far below budgetary expenses.

02-01-2018

In December, the Syrian pound fell again relative to the dollar, reducing further confidence in the national currency and the Central Bank of Syria.

28-11-2017

The Syrian Pound gained more than 14 percent relative to the dollar in the space of one week as it comes close to the 400-pound level.

07-11-2017

The Central Bank of Syria has raised the official rate of the Syrian Pound relative to the dollar as the national currency continued to gain ground recently.

07-11-2017

A decision by the government to facilitate the import of textile fabrics has created wide protests among powerful Aleppo manufacturers and highlighted the contradictory interests of the Syrian business community.

26-09-2017

The Syrian government has raised significantly the minimum capital requirement for foreign exchange companies as the national currency depreciated to a tenth of its value relative to the dollar in the past six years.

19-09-2017

The value of the Syrian pound relative to the dollar continued to rise in recent weeks although the trend is unlikely to last.

14-08-2017

Lebanon’s BLOM has said that it deconsolidated its Syrian operations in order to protect itself from international sanctions.

04-07-2017

The Central Bank of Syria has started circulating a new banknote, for the first time with the face of Bashar Al-Assad on it.

20-06-2017

Switzerland’s highest court has refused to hear an appeal from the Central Bank of Syria for lifting sanctions on it.

13-06-2017

In the past six weeks, the Syrian pound has gained ground relative to the U.S. dollar, bringing it back to its level of six months ago.

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