Syrian finance announces first five-year treasury bond auction

The Syrian Ministry of Finance has announced the first government securities auction this year to issue five-year treasury bonds with a target range of 100 billion Syrian pounds.

The Syrian Ministry of Finance said the auction will take place on the 20th of this month, with the settlement date set to February 26, 2023.

The ministry said in a statement that operating private and public banks and qualified financial intermediation companies are eligible to participate in the auction directly, and individuals and legal entities are also eligible to participate by opening an account with any of the financial intermediation companies or any of the operating banks that also have the right to subscribe for these bonds.

The Syrian ministry has indicated that the security, represented by treasury bonds, can be traded on the Damascus Stock Exchange, giving it a liquidity advantage in addition to the benefits that will be provided on a semi-annual basis.

Source: Sana