Eleven people were arrested in Damascus and Aleppo on Jan. 19, 2020, for dealing in currencies other than Syrian pounds. In the interrogation, they admitted to trading without a license and trading in an illegal manner with the aim of making profits.
The Interior Ministry said on Facebook that in Damascus it had arrested eight people for dealing in foreign transfers illegally, and carrying out exchanges without a license. In Aleppo, three people were arrested for carrying out exchanges without a license. The foreign currencies in their possession were seized. Cash assets totalling 1.2 million dollars were delivered to the Central Bank.
Bashar al-Assad issued a decree a few days ago to tighten penalties on those dealing in currencies other than the Syrian pound, in an amendment to Article Two of Legislative Decree No. 54 of 2013.
The decree included stiffening the penalty for those trading in currencies other than the Syrian pound to a punishment of, “temporary hard labor for a period of no less than seven years, and a fine equivalent to twice the value of the payments or the amount in use, or services or goods offered,” according to the official Syrian news agency.
The decree included a directive to the court, ruling to “confiscate payments, sums involved, or precious metals, in favor of the Central Bank of Syria.”
This article was translated and edited by The Syrian Observer. The Syrian Observer has not verified the content of this story. Responsibility for the information and views set out in this article lies entirely with the author.