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A private Islamic bank commenced operations in 2007. Operating as a joint-stock company, it is governed by the regulations stipulated in the Central Bank of Syria Law, the Basic Monetary System Law No. 23 of 2002, and the provisions of Legislative Decree No. 35 of 2005, regarding the establishment and founding of Islamic banks in Syria. Since 2009, the bank has been listed on the Damascus Securities Exchange, with a capital of 15,000,000,000 Syrian pounds.
