AMLC: No sale of foreign currency without justifications

Anti-Money Laundering and combating the Financing of terrorism Commission on Sunday issued a note to all banks and exchange institutions who deal with the foreign currency not to sell foreign currency except for an economic justification. The Commission which is affiliated to the Central Bank of Syria obliged the banks and exchange institutions not to sell the foreign currency for travel purposes for more than twice per year and before one day of the date of travel. The note allowed for the banks only to sell the Syrian citizen foreign currency with maximum one thousand USD per month and for 3 times per year without asking an economic reasons. The Central Bank move comes in the framework of other measures to meet the demands of citizens who need foreign currency according to economic reasons to put an end to manipulation in the currency market and speculation with the Syrian pound.