Commercial Bank of Syria

The Commercial Bank of Syria is the largest commercial bank in Syria with its headquarters located in Damascus. The bank offers commercial banking services including long-term loans in Syrian pounds; armored car service; and collections services. The bank has dozens of branches and ATM's throughout Syria.SanctionsFollowing the Syrian Civil War, on August 2011 the Office of Foreign Assets Control of the U.S Department of the Treasury designated the bank as Specially Designated Nationals. OFAC designated the bank and its Lebanese subsidiary under the authority of Executive Order 13382 (signed on June 29, 2005), which is aimed at "disrupting the activities of weapons of mass destruction proliferators and their sources of support". The European Union also imposed sanctions on the bank on October 2011 with its assets frozen.