Anas Ali, Director of the Government Revenue Division of the Syrian Ministry of Finance, has confirmed that Treasury bonds are allowed to trade on the Damascus Stock Exchange, which will be offered for subscription starting from the next auction on August 8, 2022. for treasury bonds.
Ali explained that the ministry has adopted a series of new procedures and mechanisms that allow individuals, whether ordinary or legal persons, to trade treasury bonds on the Damascus Stock Exchange through financial brokerage companies, starting with the next auction to subscribe for treasury bonds in August next year.
Ali noted that yesterday a meeting was held with representatives of the Board of Commissioners of the Securities and Financial Markets Authority, the Financial Brokerage Office of the Damascus Stock Exchange, the Public Debt and Government Securities Office of the Central Bank. Syria and a range of stakeholders Clarification of new mechanisms and procedures that allow brokerage firms to trade treasury bonds on the market, either independently or through an intermediary on behalf of their clients, individuals or entities, and allow them to subscribe directly to the primary market in treasury bond auctions.
Ali pointed out that during the meeting, the interest rate setting mechanism for each treasury bond was explained after the bids submitted at the auction were opened and arranged in ascending order according to the interest rate required from bidders and the mechanism required from brokerage firms. to allow them to participate in and trade Treasury bonds, and the importance of these bonds to brokerage firms and their clients.
Source: El Iktisad
