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IFA FINCL SVCS-SYRIA SECOND BROKER TO JOIN DAMASCUS BOURSE

21 January 2009

IFA Financial Services –Syria formerly known as IFA MAG Financial Services, is a subsidiary of Kuwait’s international financial Advisors, or IFA Kuwait.

IFA Financial Services –Syria has already received the final approval of the market regulator to engage in brokerage activities on its behalf and on behalf of others, DSE said in a statement on it Web site.

The brokerage has also received the regulator’s approval to manage initial public offerings without underwriting these offerings, according to the statement.
This makes IFA Financial Services –Syria the second member in the Damascus bourse, DSE said.

IFA Financial Services –Syria has a capital of 100million Syrian pounds ($2.12million)