Start of the Second Phase of Detentions
The Central Bank of Syria announced the start of the second phase of measures to detain and regulate the currency and remittance market, in cooperation and coordination with the Ministry of Interior, following the completion of the first phase which included issuing warnings. The Bank clarified in a statement issued today, Monday, that supervisory rounds resulted in the detention of several individuals who did not comply with the warnings addressed to them and continued to engage in currency and remittance activities without a license and without regularizing their status according to the prevailing legal procedures.
Legal Measures and Detention of Violators
The Bank indicated that legal measures were taken against the violators, detaining them and drawing up official reports against them, and seizing the financial amounts that were intended for conducting these activities illegally. In the same context, necessary investigations are being completed in due course, in preparation for referring the violators to the competent judiciary to take the necessary legal measures against them.
Continuation of Supervision and Compliance with Legislation
The Central Bank emphasized the continuation of supervisory and executive measures, in coordination with the Ministry of Interior, to detain and regulate currency and remittance activities, and to deal with anyone engaging in them without obtaining the necessary license according to prevailing legislation. The Central Bank called on all practitioners of these activities to immediately comply with the legislations and regulations governing them, and to refrain from any unlicensed practice, as this entails legal accountability and penalties according to prevailing legislation.
Previous Warnings Issued
The Central Bank of Syria had announced on the 10th of the current month the issuance of 755 warnings to shops and establishments engaged in currency and remittance activities without a license, during supervisory rounds conducted in cooperation with the Ministry of Interior in several governorates, with the aim of detecting violations.
Source: Syrian Arab News Agency (SANA)
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