• Tallman

Syria: Assad Restricts Black Market Transfers And Threatens "Terrorism" Charges


The “central bank” of the Assad regime issued a decision restricting black market transfers, and threatening unlicensed offices to affiliate them with “terrorist financing” charges.


The bank published a statement on its official page on Facebook, today, Monday, in which it said that it noted the widespread phenomenon of the delivery of money transfers received from abroad to beneficiaries through "unidentified" persons.


He added: "These sums are delivered on public roads after contacting the beneficiaries of them, and agreeing on the place of delivery, and most of the time they are contacted through voice calls through social media applications."

In its statement, the bank threatened dealers with this type of remittance with prosecution, whether citizens or unlicensed transfer companies, according to the terrorist financing laws.


He said that the prosecution will be "in the event that these persons are involved in this crime, or they are prosecuted for the crime of unlicensed exchange and dealing in a currency other than the Syrian pound according to the laws in force in the event that the crime committed by these persons is limited to that."

The foregoing comes in light of the deterioration in the value of the Syrian pound, in the foreign exchange market.


Over the past months, the Central Bank has linked the deterioration of the value of the Syrian pound to speculation by black market dealers and unlicensed transfer offices.


Last May, the Assad regime authorities, with the recommendation of the "Central Bank", launched field campaigns on money and exchange companies, with the aim of controlling the exchange rate of the Syrian pound.


The bank said in a statement at the time, “The Central Bank of Syria, through the Government’s Commission, with the banks, the Anti-Money Laundering and the Financing of Terrorism Authority and the Judicial Officer, has directly implemented extensive field missions, to all exchange institutions and money transfer companies, as well as to dealers other than the Syrian pound with the aim of Control of financial operations.


The bank added that this comes "as a result of the significant decrease in the exchange rate of the Syrian pound during the recent period, mainly due to the exploitation of speculators and manipulators in the Syrian pound by the conditions resulting from the Corona pandemic and its economic effects."

The majority of Syrians in different regions depend mainly on remittances that come from abroad, especially after the deterioration of the purchasing value of the Syrian pound and the price increase significantly.


According to a source from the city of Homs, told the "Syrian. Net", the Assad regime has stressed in the past days the offices of exchange and exchange in the city, which is similar to what he worked on in the cities of Damascus, Aleppo and As-Suwayda.


The source added that the unlicensed transfer companies stopped working at the present time, against the background of the campaign by the Assad regime, which prompted citizens to receive their transfers by hand by hand, i.e. receiving by people in public places, away from official transactions.


The Syrian Central does not officially disclose the value of money transfers, while the semi-official Al-Watan newspaper reported in May 2017 that the value of transfers from outside Syria may reach five million dollars a day.


June 1, 2020, Published on ALSOURIA

Central Bank of Syria - Source: the bank's website

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