Damascus, Dec. 31 (SANA) President Ahmad al-Sharaa issued Decree No. 293 of 2025 concerning the launch of the new Syrian national currency, effective beginning Jan. 1, 2026.
Under the decree, existing Syrian banknotes, referred to as the “old Syrian currency,” will be gradually withdrawn from circulation according to a timetable set by the Central Bank of Syria and through designated exchange centers.
The decree stipulates that new banknote “new Syrian currency,” will be issued by removing two zeros from the nominal value of the withdrawn old currency. Accordingly, every 100 Syrian pounds of the old currency will equal one Syrian pound of the new currency.
During the transition period specified in the decree, both the old and new currencies will circulate concurrently and retain equal legal tender status. Upon the expiry of the exchange deadlines, the old Syrian currency will lose its legal tender status, be withdrawn from circulation, and become invalid for financial transactions.
The decree defines the smallest unit of the Syrian pound as the qirsh, with 100 qirsh equaling one Syrian pound under the new currency system.
No commissions, taxes, fees, or penalties will be imposed on conversion or exchange operations between the old and new currencies.
The monetary and financial impact of the exchange process will apply to all prices of goods and services, wages, salaries, transactions, and financial obligations of all types and sources, whether legal, judicial, administrative, contractual, or fiscal, in accordance with the exchange standard set forth in the decree.
All public and private entities are required to display monetary amounts in both the old and new currencies during the transition period.
Unless otherwise agreed, contracts, commercial instruments, documents, records, accounts, and financial evidence issued or signed prior to the start of the exchange process will be settled according to the value of the old Syrian currency, whether payment is made in the old currency before the removal of zeros or in the new currency during the period in which the old currency remains legally valid.
If financial documents or instruments do not specify an issuance date, or if the issuance date falls within the exchange period, such documents will not be executed unless the type of currency—old or new—is clearly specified, or unless the value is determined according to its old or new denomination by mutual agreement or judicial ruling.
The decree assigns the Governor of the Central Bank of Syria the task of issuing the necessary executive instructions to implement its provisions.
