Latest news with #DamascusSecuritiesExchange
Arab News
30-06-2025
- Business
- Arab News
Syria to expand stock trading week, launch market reforms to boost investment
JEDDAH: Syria is set to expand stock market trading to five days a week starting in July, part of a broader push to modernize its exchange and attract more investors, officials said. Finance Minister Mohammad Yasser Barnieh said the Damascus Securities Exchange will implement a development plan aimed at boosting market activity and listings, according to the official Syrian Arab News Agency. Barnieh announced in a LinkedIn post that the exchange will hold a general assembly meeting in September to elect a new board of directors. The SANA report stated the minister explained that, in collaboration with the new board, the Capital Market Authority, and specialized experts, a comprehensive development plan will be launched. The report added: 'This plan aims to expand the supply side of securities and create favorable conditions for the listing of more family-owned businesses, private universities, and other companies and institutions.' The minister also noted that the plan involves introducing new financial instruments and investment services aimed at stimulating market demand. The exchange resumed trading on June 2 after a six-month suspension, with the reopening attended by government officials and key players in the financial sector. In an earlier statement, Barnieh said the exchange would operate as a private company and become a key platform for Syria's economic development with a focus on digital transformation. The planned reforms come as the country looks to revive its battered economy and rebuild investor confidence after years of conflict, sanctions, and financial isolation. The government is seeking to modernize capital markets as part of wider efforts to attract private investment and stimulate post-war reconstruction.
Zawya
09-06-2025
- Business
- Zawya
Damascus stock exchange eyes investment funds in the short term: bourse chief Asaad
The Damascus Securities Exchange (DSE) aims to attract investment funds in 2025 or next year as part of its plans to introduce new products, Basel Asaad, the executive director of the bourse told Zawya in a phone interview on June 1. Trading resumed on June 2, after more than five months of suspension. Last month, Western countries led by the United States lifted economic sanctions on Syria following Saudi mediation, to revive the economy and reintegrate Syria into the Arab and international community. "It is necessary to introduce new products (such as) Sukuk and investment funds," Asaad said. He noted that working on these products requires legislative amendments that will be devised without specifying a timeline. In response to a question about the product likely to be launched in the short term, Asaad said, "Investment funds are more important for us at the moment, at least to attract foreign investment." Asaad added that DSE is seeking to launch investment funds that tracks the Sharia index introduced by the bourse in December 2023. According to Asaad, foreign investors account for barely 2% of more than 23,000 trading investors. He expressed hope that this percentage would rise after lifting restrictions related to the inflow and outflow of funds to and from Syria. Trading resumption The last trading session on the market was on December 5, 2024, and trading was suspended on Sunday, December 8, 2024, due to the political events in the country that saw the hurried departure of former president Bashar al Assad. Trading, at the moment, will be open for three weekly sessions, from Monday to Wednesday, according to a statement from DSE. Asaad added that the market administration is keen to resume operations under the same trading rules for now, with the possibility of adjusting at a later stage. Brief market background The DSE, headquartered in Damascus, was established in 2006 and officially opened in March 2009. DSE is divided into a main market with 21 listed companies, a parallel market "A" with three listed companies, and a parallel market "B" with three listed companies. These sub-markets differ based on several criteria, including the company's capital, whether it has made a profit or loss, and the number of shareholders. The banking sector controls 86% of the total shares through 15 banks (11 conventional banks and four Islamic banks), followed by the insurance sector with 6 listed companies. In addition to stocks, trading is available on the DSE for government bonds and pre-emptive rights, which have presented a good investment opportunity for market traders. The initial price of a pre-emptive right is calculated as follows: the closing price of the share minus one hundred Syrian pounds. Thereafter, trading is carried out at a price that may increase or decrease depending on supply and demand. Click here to read the article in Arabic.
Yahoo
03-06-2025
- Business
- Yahoo
Syrian stock exchange reopens after a 6-month hiatus as part of U.S.-led push for a new free market economy
Stocks resumed trading in Damascus, a promising sign for Syria's recovery. With a new government in place and U.S. sanctions, leaders push to turn Syria into the sort of free-market economy that can attract the investments it needs to rebuild itself. On Monday, the Syrian stock exchange reopened for the first time since President Bashar Al-Assad was deposed. After a six-month hiatus, instituted just days before the toppling of Assad's regime, the Damascus Securities Exchange resumed trading. The stock exchange closed in earlier December in the lead-up to the swift and clinical rebel offensive that ultimately took the capital and forced Assad into exile. The Syrian finance minister Mohammad Yusr Barniyeh attended the opening ceremony in Damascus. At the event, he pointed to the stock exchange as a sign of Syria's widespread economic recovery. The stock exchange 'will operate as a private company and serve as a genuine hub for Syria's economic development, with a strong focus on digital,' Barniyeh said according to comments reported by the state-run news agency SANA. Reopening the stock market is part of Syria's plans to rebuild the country and its economy after 14 years of civil war. The new Syrian government, helmed by former al Qaeda member Ahmed Al-Sharaa, pledged to operate under free-market principles rather than the state-controlled economy of Assad's rule. Barniyeh reiterated the importance of the private sector during his comments on Monday. 'Our approach is centered on fairness, equity, private sector leadership, and investment attraction,' he said. 'We will facilitate business operations and open doors to promising investment opportunities.' In an effort to ease Syria's rebuilding, the U.S. and Europe both lifted the extensive sanctions it had placed on the country. Among the restrictions lifted were those banning U.S. citizens and companies from doing any business at all in Syria. In recent weeks, Syria has already succeeded in securing some initial investments in the country, which was ravaged by more than a decade of war. A group of investors from the U.S., Qatar, and Turkey signed a $7 billion deal with the new Syrian government to develop an energy project projected to deliver about 5,000 megawatts. The deal, though, does not include direct involvement of U.S. companies; instead, the American subsidiary of Qatari energy company Power International will participate in the project. The signing of the agreement featured the newly appointed U.S. ambassador to Syria Thomas Barrack, who urged the countries represented to weave 'a tapestry of commerce and cooperation,' starting with the lifting of sanctions. 'President Trump made a bold decision that he would erase the bondage of 50 years in an instant,' Barrack said of U.S. sanctions at last month's signing ceremony. Elsewhere in the Arab world, Saudi Arabia also pledged additional economic and financial support to Syria. Saudi Arabia will finance public-sector salaries in an arrangement that also includes Qatar. In a meeting last week, Saudi Foreign Minister Prince Faisal bin Farhan said investors from his country would visit Syria in the coming months to start looking into deals related to telecom, agriculture, infrastructure, and oil. This story was originally featured on Sign in to access your portfolio
Zawya
03-06-2025
- Business
- Zawya
Trading resumes at Damascus Securities Exchange after 6-month suspension
Damascus: The trading resumption ceremony at the Damascus Securities Exchange commenced Monday after a six-month suspension. Syrian Minister of Finance Dr. Mohammad Yusr Barniyeh emphasized that reopening the exchange is a sign that Syria's economy is beginning to recover and move forward. "The Damascus Securities Exchange will operate as a private company and serve as a genuine hub for Syria's economic development, with a strong focus on digital," the Syrian news agency (SANA) quoted the Minister as saying. Executive Director of the Damascus Securities Exchange Dr. Basel Asaad described the reopening as a historically significant milestone for Syria. He affirmed the exchange's readiness to resume operations and strengthen its role, anticipating broader and more substantial investments in Syria's evolving economy. Despite limited resources, Dr. Asaad highlighted the exchange's success in carrying out its responsibilities with transparency and ensuring investor ownership protection. He expressed confidence in its ability to keep pace with future developments. Meanwhile, Chairman of the Board of Directors of Damascus Securities Exchange Fady Al Golailaty said that the Damascus Securities Exchange will not merely be a platform for trading stocks and bonds, but will also play an active role in reconstruction, economic growth, and attracting both local and international investments. He added that it will contribute to stabilizing the national currency and integrating the Syrian economy with global economies. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Qatar Tribune
02-06-2025
- Business
- Qatar Tribune
Trading resumes at Damascus Securities Exchange after 6-month suspension
QNA & Agencies Damascus The trading resumption ceremony at the Damascus Securities Exchange commenced Monday after a six-monthsuspension. Syrian Minister of Finance Dr Mohammad Yusr Barniyeh emphasised that reopening the exchange is a sign that Syria's economy is beginning to recover and move forward. 'The Damascus Securities Exchange will operate as a private company and serve as a genuine hub for Syria's economic development, with a strong focus on digital,' the Syrian news agency (SANA) quoted the minister as saying. Executive Director of the Damascus Securities Exchange Dr Basel Asaad described the reopening as a historically significant milestone for Syria. He affirmed the exchange's readiness to resume operations and strengthen its role, anticipating broader and more substantial investments in Syria's evolving economy. Despite limited resources, Dr Asaad highlighted the exchange's success in carrying out its responsibilities with transparency and ensuring investor ownership protection. He expressed confidence in its ability to keep pace with future developments. Meanwhile, chairman of the Board of Directors of Damascus Securities Exchange Fady Al Golailaty said that the Damascus Securities Exchange will not merely be a platform for trading stocks and bonds, but will also play an active role in reconstruction, economic growth, and attracting both local and internationalinvestments. He added that it will contribute to stabilising the national currency and integrating the Syrian economy with global economies. The resumption comes as Syria's new administration intensifies efforts to revive the economy and rebuild the country after 24 years under the ousted regime of Bashar al-Assad. The regime's fall was followed by the establishment of a new government led by Ahmad al-Sharaa, who had led anti-regime forces to oust Assad. In late January, Al-Sharaa was declared president for a transitional period.
