Damascus Securities Exchange (DSE)

Syria Levies 50,000 SYP Tax On Cars Entering Syria

(London, UK – 1:13 A.M.) The Syrian government has imposed an import tax of 50,000 Syrian Pounds (SYP) on Lebanese and Jordanian vehicles entering Syria.

It was also recently announced that the Ministry of Internal Trade will import olive oil from abroad. The decision was unpopular, as Syria is a large olive oil producer, although output has decreased due to the conflict.

There was significant¬†activity in Syria’s banking sector; Banque Bemo Saudi Fransi made an initial offer to purchase a 45% stake in Syria Gulf Bank for an undisclosed amount.

Furthermore, just a few hours ago, the Syrian Ministry of Internal Trade ratified the incorporation of a private holding company. The holding company possesses capital in excess of 700 million SYP. Salim Daaboul owns 73% of the company, while the other 27% is split between 8 additional shareholders.

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