Seventeen Seizures Announced
The Central Bank of Syria said on 28 October 2026 that it had carried out 17 enforcement actions against people who continued to run money-exchange and transfer operations without a license despite earlier warnings to stop. The announcement was published through the bank's official channel.
The measures were part of joint inspection tours conducted with the Ministry of Interior, which the bank said would continue across the country.
A Two-Phase Inspection Drive
The 17 seizures belong to a second phase of inspections that began on 19 October 2026. They followed a first phase on 10 October 2026, when 755 warning notices were issued to shops and establishments found operating without a license.
The sequence — warnings first, then enforcement — points to a graduated approach aimed at pushing unlicensed operators either to register or to shut down. Enforcement teams moved only after the initial warning period had elapsed.
Targeting the Parallel Market
Unlicensed exchange and remittance outlets form the backbone of the parallel currency market, where the Syrian pound (SYP) trades against the US dollar (USD) outside official channels. Bringing these operators under supervision is central to the effort to regain control over money flows and transfer services.
Licensed oversight also determines who may legally move funds into and out of the country, a question that has gained weight as formal banking and transfer services are gradually rebuilt. Shifting hard-currency dealing toward supervised institutions is a stated aim of the campaign.
Measures and Next Steps
The enforcement actions included arrests, the seizure of funds prepared for unlicensed activity, the sealing of premises, and the referral of violators to the judiciary. The bank said citizens who complied with the licensing rules had cooperated with the inspection teams.
The inspection campaign would press on, the bank indicated, signaling that further rounds against unlicensed currency and transfer activity are likely in the weeks ahead.