End of the formal warning phase for those conducting money exchange and remittance activities without a license, and start of legal action against them

Damascus, Syria, 15 October 2026

End of the formal warning phase and start of legal action against those conducting money exchange and remittance activities without a license, as of 18 October 2026

In continuation of the efforts of the Central Bank of Syria and the Ministry of Interior to regulate and oversee money exchange and remittance activities, and to strengthen compliance with the legislation and regulatory requirements governing them, the Central Bank of Syria announces the end of the phase of issuing formal warnings and the start of the phase of enforcing the legislation and taking legal action against violators of the law on practicing the money exchange and remittance professions without a license, as of Sunday, 18 October 2026, and without prior warning.

The Central Bank of Syria affirms that the Judicial Police, in coordination with the Ministry of Interior, will commence detecting violations related to engaging in money exchange and remittance activities without a license in all Syrian governorates, preparing the necessary violation reports, and referring them to the competent judicial authorities, in accordance with the applicable legal requirements.

The legal action covers anyone who practices the money exchange and remittance professions without a license, whether they were previously issued written warnings to regularize their status or were not previously warned, and without issuing any warnings or granting any new grace periods.

The Central Bank of Syria affirms that engaging in money exchange and remittance activities is conditional on obtaining the required license from the Central Bank of Syria, and that conducting these activities without a license exposes the perpetrators to accountability and to the penalties stipulated in Article 25 of Law No. 24 of 2006 and its amendments.

The Central Bank of Syria calls on the establishments concerned to comply with the applicable legislation and to refrain from conducting any money exchange or remittance activity without the required license.

It also urges fellow citizens to deal exclusively with licensed companies and offices, in a manner that contributes to protecting their funds and rights, reducing the risks of fraud and unlawful financial activities, and enhancing the safety of transactions in the banking and monetary sector.