It is an important date in the financial history of Syria that has been under a socialist-type of economic organisation for decades. The very first Syrian Stock Exchange is scheduled to be officially inaugurated on the 9th of March 2009.
According to US-based International Herald Tribune, "the fledgling market is due to trade on a tentative trial basis for three weeks before being officially inaugurated in early March. The interim operations of the Damascus Securities Exchange included five large Syrian companies: the International Bank for Trade and Finance, Bank of Syria and Overseas, Arab Bank-Syria, Banque Bemo Saudi-French, and Al-Ahliah Company for Transport."
Others companies, which are willing to enlist, will have to wait until the official grand opening of the Damas Stock Exchange. The American daily newspaper reports that "Syrian President Bashar al-Assad issued a decree establishing the bourse's operator in October 2006. It is meant to operate as an independent entity responsible for regulating and developing financial markets and related activities." |