Commercial Bank of Syria

Coordinates: 33°30′58″N 36°17′40″E / 33.51611°N 36.29444°E / 33.51611; 36.29444

Commercial Bank of Syria
Public
Industry Banking, Financial services
Founded 1967
Headquarters Youssef Al-Azmeh Square, Damascus, Syria
Area served
 Syria and abroad
Key people
 Muhammad Murtada (Chairman),
D. Dergham (CEO)
Products Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, Securities, asset management, wealth management
470 m$
Owner Government of Syria (100%)
Number of employees
 4000
Subsidiaries SLCB
Website www.cbs-bank.sy

The Commercial Bank of Syria (Arabic: المصرف التجاري السوري‎‎) is the largest commercial bank in Syria with its headquarters located in Damascus. The bank offers commercial banking services including long-term loans in Syrian pounds; armored car service; and collections services. The bank has dozens of branches and ATM's throughout Syria.

Sanctions

Main article: Syrian Civil War

Following the Syrian Civil War, on August 2011 the Office of Foreign Assets Control of the U.S Department of the Treasury designated the bank as Specially Designated Nationals. OFAC designated the bank and its Lebanese subsidiary under the authority of Executive Order 13382 (signed on June 29, 2005), which is aimed at "disrupting the activities of weapons of mass destruction proliferators and their sources of support".[1][2] The European Union also imposed sanctions on the bank on October 2011 with its assets frozen.[3]

References

  1. ↑ "OFAC Names the Commercial Bank of Syria, the Syrian Lebanese Commercial Bank and Syriatel as Specially Designated Nationals; Additional Sanctions Against Syria Expected, Stepote&Johnson". Steptoe.com. Retrieved 2013-02-04.
  2. ↑ "US slaps sanctions on Syria's largest commercial bank, Now Lebanon, August 10, 2011". Nowlebanon.com. Retrieved 2013-02-04.
  3. ↑ "EU adds Commercial Bank of Syria to sanctions list, Ahram Online". English.ahram.org.eg. 2011-10-13. Retrieved 2013-02-04.

External links

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