Opening on January 7th 2004, BSO is a joint venture between Banque du Liban et d´Outre Mer (BLOM) , the World Bank's International Finance Corporation (IFC), and local investors.

BSO was launched next to the Chamber of Commerce in Damascus Old Town.

BSO has focused on taking deposits, offering short-term trade financing, issuing letters of credit, letters of guarantee, opening documentary credits, handling of collections and discounting commercial papers.