Damascus Securities Exchange Presents an Honorary Shield to Abu-Ghazaleh

 

The meeting addressed the conversion of the individual companies into securities companies where Exchange Director Dr. Ma’amoun Hamdan requested that TAG-Org provides its professional services in this field

DAMASCUS ------ November 1, 2011 --- Damascus Securities Exchange (DSE) presented HE Dr. Talal Abu-Ghazaleh, chairman and CEO of Talal Abu- Ghazaleh Organization (TAG-Org) with an Honorary Shield in appreciation for his effort in the business world.

Dr. Abu-Ghazaleh met with the Exchange Director Dr. Ma’amoun Hamdan where he explained to the Exchange management members in the meeting the services provided by TAG-Org to the Arab Securities Exchanges on auditing the exchanges data, and conducting subscriptions and mergers, in addition to SWOT analysis.

Dr. Abu-Ghazaleh explained that this auditing came as a response to G20 decisions in 2009 to avoid the occurrence of new chocks, liquidity problems, and bad debts where ten programs were developed to check the companies’ stress test.

It was initially agreed to organize a seminar in cooperation with Damascus Securities Exchange to explain such programs to the companies. It was also agreed that TAG-Org holds special seminar on family companies about the policies and procedures of maintaining them after the third generation.

Dr. Abu-Ghazaleh pointed out that Talal Abu-Ghazaleh & Co. International is the only Arab firm in the (Forum of Firms) which includes 24 overseas firms that comply with the international and transparency standards, and provide training on the public accounting standards, and S & M Enterprises accounting standards.

The meeting addressed the conversion of the individual companies into securities companies where Dr. Hamdan requested that TAG-Org provides its professional services in this field pointing out that there are 350 private joint stock companies and 52 public joint stock companies in Syria, out of which only 21 companies are listed on the Exchange and 15 companies legible for listing.

Dr. Hamdan advised the limited liability companies to convert into private joint stock companies, then to public joint stock companies. It was also agreed that TAG-Org office in Damascus delivers a lecture on the importance of converting the family companies into securities companies.

At the end of the meeting, Dr. Hamdan escorted Dr. Abu-Ghazaleh and the accompanying delegation in a tour to Damascus Securities Exchange.