Amending Money Exchange Laws Keeps Pound Stable: CBS

New law increases punishment and fees for illegal money exchange and transfer

The governor of the Central Bank of Syria, Adib Mayaleh said amendment of the law regulating money-exchange is part of efforts to stabilize the Syrian Pound.

 

"The amendment, approved by the People's Assembly, aims to put an end to manipulation in exchange market, in light of current pressure on the Syrian Pound," Mayaleh said in a statement.

 

He said the new draft legislation increases punishment for money unlicensed exchange without or illegal external money transfers.

 

"The penalty will become imprisonment for three to ten years with a minimum fine of 3 million SP," Mayaleh said.

 

Translated and edited by The Syrian Observer
 

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