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Economy>>Central Bank: Punishing unlicensed dealers in foreign currencies

Central Bank: Punishing unlicensed dealers in foreign currencies

Aug 29, 2013


Damascus, (SANA)-Governor of the Central Bank of Syria Adib Mayaleh reiterated that the Syrian law punishes all dealers in the foreign currencies in the parallel market without a license, reminding of the rules of Law 18 for 2103 which sentences a 10-year imprisonment and a penalty not less than 5 million SYP to any illegal dealer.

"The penalty could reach 15-year imprisonment to those who transfer the money to outside the country," Mayaleh said in a statement on Thursday.

Mayaleh affirmed that the bank is still financing the imports and sells the US Dollar to the banks and exchange institutions with 175 SYP.

The Central Bank of Syria has repeatedly intervened in the market to keep the Syrian pound's price against the foreign currencies stable.

Mazen

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