Import Ban Takes Effect
Syria has halted the import of gold coins and ounces under a measure announced on 6 July 2026 by the state body that regulates the country's precious-metals trade. The restriction targets minted gold pieces sold to buyers by the unit, including coins and one-ounce bars, rather than the metal in bulk.
The decision was issued by the General Authority for the Management of Precious Metals, which operates under the Ministry of Economy and Industry and is responsible for testing, certifying, and hallmarking gold sold in the local market.
Reasons Behind the Decision
Officials gave two main reasons for the halt. The first is that domestically produced gold now covers market demand in full, with locally made pieces passing quality checks and carrying Syrian standardization certificates that confirm their weight and purity.
The second is the spread of counterfeit foreign-branded coins that reached the country through unofficial border crossings. The authority said it had already seized several shops trading in such pieces, and it framed the import ban as a step to shield buyers from fraudulent gold.
One Month to Register
Traders who already hold imported gold coins have been given a window of one month to declare their existing stock to the authority's offices in the provinces. Once registered, those pieces are to receive an official Syrian hallmark certifying their weight and purity before they can be sold.
The restriction is confined to minted coins and ounces. Imports of raw gold and conventional jewelry remain permitted, so the broader gold trade and the supply of metal to workshops stay open.
Oversight Expands Nationwide
To enforce the new rules, the Ministry of Economy and Industry has opened branches of the precious-metals authority in all Syrian provinces. The wider network is intended to standardize hallmarking, monitor what enters the market, and keep unverified coins out of circulation.
The authority said the tighter controls are aimed at pieces that had reached buyers outside official channels, and that domestic production is now able to meet demand without imported coins.