Damascus-SANA
The Ministry of Finance announced the second auction of government securities for the year 2022 to subscribe to two-year treasury bonds with a target issuance scope of 300 billion Syrian pounds, on Monday, August 8, while allowing government securities to trade in the stock market.
The ministry stated in a statement posted on its Telegram channel that financial brokerage companies that completed the procedures for participating in auctions, operating banks and eligible to subscribe to these bonds, and natural and legal individuals, have the right to participate in the auction by opening an account with any of the aforementioned companies or banks after authorizing the bank or financial brokerage company. by subscribing to these bonds.
The ministry pointed out that this subscription is the first of its kind in Syria, which allows government securities to trade in the stock market, which contributes to giving them the advantage of liquidation without the need to wait until the end of the paper's term and the date of its maturity, and thus leads to mitigating the risks of investing in these bonds for subscribers and benefiting from Benefits to be awarded semi-annually
At an interest rate that will be determined based on the submitted offers, which will be announced after the end of the subscription work, as the settlement date will be on the 13th of next August.
In a statement to SANA, the Director of Public Revenue at the Ministry of Finance, Anas Ali, confirmed that the ministry, in cooperation with the Damascus Securities Exchange and in coordination with the Syrian Securities and Financial Markets Authority and the Central Bank of Syria, has completed the necessary procedures for trading treasury bonds in the Damascus Securities Exchange, the latest of which was issuing a registration, deposit and trading system for these bonds in the market.
Waseem Al-Adawi
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