The Damascus Securities Exchange (DSE) was the best-performing stockmarket in the Middle East and North Africa region (after Iran) and one of the best in the world in 2010. The market was launched in March 2009, and the DSE index was introduced on the last day of trading that year, at 1,000. By mid-December the index had risen to 1,750. Trading is still restricted to three days a week, and there are currently only 18 stocks listed, with a total market capitalisation of only about 5% of GDP. Daily trading rarely exceeds S£100m (US$2.2m), and the market is heavily skewed towards finance, with banks accounting for 11 of the listed stocks and insurance companies for four.

Privately held companies have thus far been resistant to listing, and the government has for the time being ruled out privatisation, which would offer a means to boost the capitalisation of the DSE. Nevertheless, a relatively secure platform has been created for the market's rapid expansion. The award of three mobile-phone licences next year (one to a new operator and two to the incumbents) may be a catalyst for the DSE's growth-the telecommunications companies may consider listing shares as a means to help cover the costs of the licences.