The Damascus Securities Exchange (DSE) will be formally opened on Tuesday 10/ March/ 2009.
The establishment of the DSE is seen as a high priority for the Government of Syria and part of the country’s move to a more market based economy. One of the key expected benefits from the establishment of the DSE is additional support for the development of the private sector in Syria which will contribute to the overall economic growth potential. Among the additional benefits are the availability of alternative funding sources, so essential in the present global economic climate, and diversification of investment opportunities for institutional and retail investors.
The DSE will launch with the trading of six listed companies:- Banque Bemo Saudi Franci
- Bank of Syria and Overseas
- United Group for publishing Advertising and Marketing
- Arab bank –Syria
- Alahlia Company for Transport
- Bank Audi- Syria
A further four companies have applications for listing in the pipeline.
Four brokers have been admitted to membership of the DSE. A further six brokers are expected to join the DSE in the coming weeks once their applications for membership have been approved by the Board of the DSE.
Technical Assistance for the establishment of the DSE was provided by FIRST Initiative via the Hong Kong based consultancy, International Securities Consultancy Ltd. Other external advice and support was provided by the exchanges of Jordan, Egypt and Abu Dhabi.