The first private commercial bank in Syria commenced operations in 2004. 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 Law No. 28 of 16 April 2001. Since 2009, the bank has been listed on the Damascus Securities Exchange, with a capital of 10,000,000,000 Syrian pounds.
