The Federation of Euro-Asian Capital Markets
64 65
About Company
Damascus Securities Exchange
Basel Asaad
Chief Executive Officer
Established: 2009
Address: 6564 Damascus - Barza, Damascus, Syria
Contact Name: Osama Hasan
Email: ohasan@dse.sy
Website: www.dse.sy
- Joined FEAS in 2010 -
Damascus Securities Exchange (DSE) achieved a significant result in 2024 in terms of all performance indicators. The main index at DSE (DWX) has increased to reach its highest ever value since the launch of DSE at 107,946.31, before it closed at 99,694 points with a percentage change of 66% compared to the previous year. Trading volumes and values (including the value of Block trades) also had increased during the year 2024 compared to 2023, by a rate of 183% for trading volume and 159% for trading values This was due to the good performance of the listed companies, which was reflected in its periodic financial disclosures during the year, in addition to the depreciation of the local currency and the high rate of inflation, that encouraged investors to invest in stocks as a good investment opportunity. As for the market capitalization value, it increased to exceed 18 trillion SYP with a percentage change of 69 % compared to 2023. The year 2024 was a busy year for DSE in many dimensions. First, 2024 has witnessed the listing of a new company, National Islamic Bank. Second, two pre-emptive rights were listed and traded due to the capital increase of two banks. Third, the increased interest in offering online trading services amongst investors has reflected in more brokerage firms interested in adopting the service. DSE was busy testing new online trading apps and accommodating these apps to DSE requirements.
The economic sanctions imposed on the country had a negative impact on the performance of listed companies and on the establishment of new companies, which was reflected in the market's performance.
With the lack of resources & scarcity of necessary operational materials, DSE also faced major operational difficulties in operating the servers and the network equipment system on one hand. On the other hand, this equipment became outdated. Therefore, DSE is now in the final phase of the process & upgrading its IT infrastructure through purchasing new equipment: servers, Storage Area Network (SAN), and network equipment, in parallel with working on its contingency plan(DR). As a result of all these circumstances, DSE had witnessed a high rate of employee turnover during the last year.
However, with the efforts made by the new government after the fall of the Assad regime
Year in review