The Director of Public Revenues at the Syrian Ministry of Finance, Anas Ali, announced that treasury bonds were allowed to be traded on the Damascus Stock Exchange.
The bonds will be offered starting from the next auction to be held on 8-8-2022 for subscription to treasury bonds.
Procedures and Mechanisms
Ali explained that the ministry of Finance has taken a set of new procedures and mechanisms that allow treasury bonds to be traded in the Damascus Stock Exchange by individuals, whether they are ordinary or legal persons.
This will be through financial brokerage companies as of the next auction to subscribe for treasury bonds next August.
Ali pointed out that yesterday, a meeting was held with representatives of the Board of Commissioners of the Securities and Financial Markets Authority and the Directorate of Financial Brokerage Services Companies at the Damascus Securities Exchange.
The meeting was also attended by representatives of the Directorate of Public Debt and Government Securities in the Central Bank of Syria and a number of stakeholders, during which the new mechanisms and procedures were explained.
Ali indicated that during the meeting, the mechanism for setting the interest rate for each treasury bond was explained after the bids submitted in the auction were submitted and arranged in ascending order according to the interest rate required of the bidders.
The mechanism required of brokerage firms to allow them to participate in auctions and trading of treasury bonds and the importance of these bonds to brokerage firms and their clients was also presented.
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