The management of Cham Bank, the first private Islamic bank in Syria, revealed its intention to establish a limited liability company to enter the real estate market. In a disclosure published by the Damascus Securities Exchange (the stock market) on May 21, it mentioned that the fully bank-owned company’s capital amounts to one billion Syrian pounds. The bank’s management confirmed the approval of the Monetary and Credit Council to establish the company, stating that the matter is pending presentation to the general assembly of the bank’s shareholders. The company started with a small capital of about 66,000 US dollars according to the unofficial dollar market rate. Reconstruction calculati
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