Saudi stocks ended Sunday's trading on a higher note, supported by the rise of leading stocks, amid trades worth a total of about 2.5 billion riyals.
The main market index, TASI, rose during Sunday's session by 0.8 percent, closing at 10,682 points, adding 83 points.
“Al Rajhi Bank” shares rose by 3 percent to 64.75 riyals, while “Saudi Aramco” shares rose by less than 1 percent to 25.82 riyals.
The shares of “Saudi Energy”, “Al-Fakhariya”, “Al-Tameer”, “Salama”, “Tadawul Group”, “Saleh Al-Rashed”, “Al-Sharqiyah Development”, and “Tas’heel” ended their trading at rates ranging between 2 and 4 percent.
“Laden” and “Naseej” stocks led the way, rising by more than 5 percent.
On the other hand, “ACIG” shares fell by 4 percent to 6.75 riyals, while “Tabuk Agricultural” shares led the declining companies, with a decrease of 5 percent.
With regard to real estate traded funds, the “Al-Azizia REIT” fund increased by 2 percent, after the company announced the signing of a new lease contract with “Amlak International Finance” worth 11.3 million riyals.
The prices of distressed Lebanese Eurobonds rose to their highest levels since before the default was announced in March 2020, supported by improved expectations related to the path of economic and financial reforms, following the visit of the International Monetary Fund mission to Beirut.
The “Bloom” Lebanon bond index rose by 0.48 percent during the week ending September 25, to 29.8 points, compared to 29.66 points in the previous week, recording almost its highest level since February 2020, according to a report by “Bloom Invest.” Bond prices due between 2027 and 2037 ranged between 28.14 and 30 cents on the dollar.
The improvement came after the IMF mission’s visit to Lebanon between September 15 and 18, during which it discussed economic conditions and the progress of financial and banking reforms. The Fund praised the progress made in a number of files, but stressed the need to amend the Financial Stability and Deposit Recovery Law, known as the Financial Gap Law, to ensure the protection of depositors and respect for the priority order of claims, in addition to removing a viable banking sector from the restructuring process.
Lebanese bond yields for 5 and 10 years fell by about 10 basis points during the week, to 45.90 and 29.75 percent, respectively, as their prices rose. The credit spread for 5 years decreased to 4087 basis points, and for 10 years to 2457 basis points.
Bloom Invest believes that the bond performance reflects an improvement in investors’ outlook on the reform path, even though the improvement is still surrounded by major economic and security risks. The report indicated the continuation of Israeli strikes in southern Lebanon, in addition to the escalation of regional tensions, putting pressure on the country’s economic and stability prospects.
The IMF mission said after its visit that Lebanese economic activity is likely to contract significantly during 2026, with inflation continuing at double-digit levels and the current account deficit widening, mainly driven by rising energy costs. On the other hand, it praised the preservation of a degree of macroeconomic stability, the progress in public financial management, and the approval of amendments to the law redressing the conditions of banks.
Although bond prices have risen, their levels still reflect high pricing of risks. They trade at less than a third of their face value, while longer-term bond yields exceed 29 percent. Its continued rise depends on the authorities’ ability to translate progress on reforms into concrete measures. Especially in restructuring the banking sector, determining the mechanism for dealing with financial system losses, and protecting the rights of depositors.
The Governor of the Central Bank of Syria, Muhammad Safwat Raslan, expected that the volume of foreign capital arriving to establish new banks in Syria would exceed more than one billion dollars during the coming period, as part of a set of objectives for the Central Bank concerned with encouraging investment in the country, protecting the rights of customers, and opening safe transfer corridors through official channels.
On Sunday, the Syrian Arab News Agency (SANA) quoted Raslan as saying: “With regard to acceptance and licensing standards, there are existing standards and executive instructions for licensing Islamic and traditional banks, and the most important of these standards is the experience of the applicants, the reputation, and the financial solvency of the founders, in addition to the necessity of having a strategic banking partner who owns a share of no less than 10 percent of the established bank.”
Raslan stated that the time frame for granting licenses in general depends on the applicants providing the Central Bank with the required documents and fulfilling the set conditions, stressing that the bank attaches importance to this matter, and is working hard to ensure that the period for issuing the initial license does not exceed 3 to 4 months from the moment of receipt of all requirements.
Raslan confirmed that there are no financial risks; Because the law allowed the foreign investor to keep 60 percent of the paid-up capital in foreign currencies, and as for profits and their transfer, this is also protected; Pointing out that all restrictions on buying and selling or transferring foreign currencies have been abolished, and therefore there are no financial risks to investors in this regard.
Regarding regulatory risks, Raslan explained that the Central Bank of Syria issues its regulatory and supervisory decisions in accordance with international standards, whether in terms of risks or accounting, and therefore investors will not find a difference between what is applied in their countries and what is applied in Syria.
Raslan explained that the Central Bank is working to encourage all international transfer service providers to enter the market through Syrian financial institutions, in order to open safe transfer corridors for Syrians and foreigners, and protect their rights and interests.
Raslan pointed out that the ceiling of permissible daily and monthly transfers is subject to the agreement between the financial institution in Syria and the bank, or the company providing the service abroad, explaining that what matters to the Central Bank of Syria is taking the necessary procedures and setting ceilings by the institutions in proportion to the nature of the service provided.
On the other hand, President Ahmed Al-Sharaa issued Decree No. 176 of 2026, appointing Nibras Muhammad Wahid Khayat as First Deputy Governor of the Central Bank of Syria.
The second article of the decree stipulates the cancellation of all work that contravenes the provisions of this decree
