Syrian Central Bank warns unlicensed exchangers
The Central Bank of Syria issued 755 warnings to unlicensed money exchange establishments across 11 governorates during supervisory inspections carried out in cooperation with the Ministry of Interior. These inspections aimed to control violations related to unlicensed currency exchange and remittance activities. The targeted locations included shops and establishments in Damascus, Rural Damascus, Aleppo, Latakia, Tartous, Homs, Hama, Daraa, Deir ez-Zor, Raqqa, and Idlib. The bank emphasized that these measures are intended to regulate the financial sector, ensure currency exchange activities are conducted within legal frameworks, protect clients from fraud or dealings involving counterfeit currencies, and reduce the exploitation of unlicensed operations for illicit activities. Additionally, the bank underlined the importance of dealing with licensed banking institutions to ensure transaction safety and ongoing coordination with relevant authorities to take the necessary legal actions.
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