The bomb which blasted near a school in the Sabaa Bahrat district which houses the Central Bank and Finance Ministry, set cars ablaze and damaged buildings.

The bombing appears to be in retaliation to army’s recent gains in countering terrorists in different parts of the country.

Syria is facing an armed insurgency since March 2011 which has left many people and army soldiers dead. The government says the insurgency is being orchestrated from outside the country and a large number of militants are of foreign nationalities.

According to reports hundreds of foreign militants have fled to Syria to fight against the government.

The militants are equipped with heavy arms and recently, use of chemical weapons by the rebels was also reported by the government. On the report, U.N. Secretary-General Ban Ki-moon said Monday an advance team of experts were assigned to investigate the assertions.