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-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.
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