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CBS calls on businessmen and citizens to employ regular banking channels in their transactions

July 30, 2020

The Central Bank of Syria (CBS) called on the owners of economic projects and citizens to employ in their transactions the regular banking channels which are represented by the licensed financial intuitions, in order to avoid high risks, legal accountability, and heavy financial losses.

The CBS affirmed in a statement that it continues to implement its recent procedures to regulate the foreign currency market, advising the owners of economic projects and citizens to avoid involvement in the black market and to not follow websites and applications whose owners seek to harm the national economic by setting high exchange rates that are removed from the reality of the market, trying to make up for losses caused by the improving SYP exchange rate and publishing incorrect information which cause heavy losses to those who act upon said information.