A Fund to Support Handicrafts

Damascus, (ST) – At the conclusion of the activities of the First Syrian Conference for Banks and Micro-finance, the participants recommended to establish a fund to support small and medium-sized enterprises and trading for the shares through Damascus Securities Exchange and the conversion of troubled projects into joint stock companies and the access to public and private banks that lend to the owners of these projects as partners.

The participants also called to launch stock-holding companies for the sale of investment securities in the field of reconstruction, investment, tourism, real estate development and the creation of a fund to support traditional handicrafts and support the Syrian Inventors in financing their projects.

The Executive Director of the Damascus Securities Exchange Dr. Mamoun Hamdan pointed to the role of Damascus market in supporting, encouraging investment and the development of savings among the public and facilitating the employment of capital and providing investment potential of each society and facilitating the movement of capital between investors at fair prices, indicating the importance of the market to encourage the establishment of public joint stock companies by domestic and foreign investors.

Dr. Hamdan pointed out that the market has contributed to the creation of jobs and new job opportunities in Syria and the establishment of small facilities where “the bourse provided a new added value in terms of the employment of competent persons” presenting the advantages of investing in the market through the possibility of diversifying the investment in addition to the ease of buying and selling at fair prices.

For his part, Vice president of the Association of Syrian Financial Brokerage Services Firms Deia Hijazi clarified that the Association is working under the supervision of the Securities and Exchange Commission, reviewing the role played by the brokerage firms to provide consultancy and advice to clients through technical analysis which is based on movements of price and the analysis of information relating to securities and brokerage in securities to the benefit of the companies, referring to the challenges faced by brokerage firms in liquidity and inflation and the constant need to compensate for the human cadres working in the companies.

Sh. Al -Khatib