US EditionDamascus Stock Exchange Reopens After 6-Month Closure
- The Damascus Securities Exchange resumed trading on Monday after closing for six months in Syria.
- The closure took place amid turmoil leading up to the removal of former President Bashar Assad during a swift rebel campaign following almost 14 years of conflict within the country.
- Syria's new leaders intend to rebuild the economy, supported by easing international financial restrictions and a $7 billion energy deal with Qatari, Turkish, and U.S. Companies.
- Finance Minister Mohammed Yisr Barnieh stated that the stock exchange will function as a private entity, prioritize digital innovation, and support economic growth by easing commercial activities and attracting valuable investment prospects.
- This reopening and related developments suggest Syria’s economic recovery is beginning, with the stock exchange aiming to become a real hub for growth.
59 Articles
59 Articles
Syria looks at new economic dawn, stock market reopens in a recovery signal
The reopening of Syria's stock market follows after countries around the world have started easing economic restrictions. The US and Europe announced last month that they will lift sanctions on the country that had been imposed during the Assad dynasty's rule
In Syria, it had closed a few days before the fall of Bashar al-Assad, six months later, and while an Islamist coalition was in power, the Damascus Stock Exchange reopened its doors on Monday, June 2. A grand pompous ceremony was held at the new headquarters west of Damascus, less than a month after the lifting of the US and then European sanctions against Syria, the reopening of the Stock Exchange is another step towards reviving the economy.
Damascus Stock Exchange Reopens Amid Concerns Over Money Laundering by Regime-Affiliated Elites - The Syrian Observer
The Damascus Securities Exchange was officially reopened on Monday in a government ceremony attended by Finance Minister Mohammad Yusr Barniya, high-ranking economic and government officials, and a number of investors and businesspeople. The relaunch marks the latest attempt by Syrian authorities to signal a new phase of economic revival in the country’s post-Assad transition. In his remarks at the opening, Minister Barniya described the relaunc…
The government wishes to take advantage of this reopening to revive the Syrian economy, in a context of lifting international economic sanctions.
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