CBS shuts down a number of currency exchange companies

CBS shuts down a number of currency exchange companies

Damascus, SANA – The Central Bank of Syria (CBS) on Tuesday issued decisions to shut down 14 currency exchange companies that have not fulfilled their required role in terms of supporting the stability of the Syrian Pound exchange rate.

A statement issued by the CBS said that the decisions prohibit these 14 companies from operating until 30/04/2020, explaining that this decision is motivated by the CBS’ efforts to regulate the market and prevent manipulation of the exchange rate.

It should be noted that the CBS intends to reevaluate the economic feasibility and the viability of currency exchange companies in general.

Hazem Sabbagh

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