5/28/2025–|Last update: 13:04 (Mecca time)
Syrian Finance Minister Mohamed Youser Burniyah said that his country will reopen the Damascus Securities Market on June 2 “after completing the necessary reviews and procedures,” according to the Syrian Arab News Agency (SANA).
Buria stressed that the necessary measures are taken to ensure the safety of compliance to confront money laundering operations and the exploitation of criminals to the market, indicating that trading will initially limit 3 days a week.
Activating the economy
The Minister of Finance pointed out that the aim of the reopening of the market to contribute to stimulating the economy and moving financial transactions, explaining that the preparation has also been started for a comprehensive development of the securities sector in Syria, which includes the trading system, clearing, electronic settlement, developing digital services, expanding investment tools, stimulating both supply and demand for securities, in addition to interest in awareness.
Minister Burniyah pointed out that there will be a comprehensive review of existing financial legislation, and its modernization, in line with modern trends, global standards, and sound global practices, and enhance the market role in supporting the financing of the economy and development, to serve the purposes of expansion in the Syrian economy in the coming years.
The agency stated that the market stopped trading on December 5, “due to the urgent need to determine the operational and financing situation of the joint stock companies, and the completion of the required disclosure of them about the size of damage and losses, and reduce the possibility of manipulation and smuggling of money.”
Microfinance
In another context, the Syrian Minister of Finance agreed with the executive secretariat of the West Asia Economic and Social Committee (ESCWA) Rola Dashti to support the development of the smaller financing sector, small and medium enterprises in Syria, and the formation of a joint work team that includes a number of ministries, and with the participation of international institutions and experts to achieve this.
They also agreed on cooperation in supporting the development of social protection networks, contributing to the development of economic, financial, and social statistics, and the development of databases, in cooperation with the Planning and Statistics Authority and the Central Bank of Syria.
