Governor of (CBS): Financing Business Operations Nonstop

 DAMASCUS, (ST) – The Governor of the Central Bank of Syria, Dr. Adib Maiyaleh, underlined that the bank is continuing in funding business processes through licensed banks and buying foreign exchange from the Central Bank by these banks will be available to finance non – commercial banking operations as well as exchange licensed institutions.

During a meeting by the quality intervention session held on Friday in the presence of representatives of the licensed banking institutions, Dr.  Maiyaleh noted that the bank always seeks to maintain exchange rate stability within acceptable levels and that will not allow happening any fluctuations in the exchange rate of the lira .

He indicated to the necessity of activating the primary role of banking institutions , doing the best and to limit any speculative or manipulated exchange rate of the lira. He also reiterated the bank ‘s readiness to intervene in order to preserve the record levels to the Syrian pound .

“All banks have the right to submit their requests to buy foreign exchange from the Central Bank to cover the needs of citizens for non-commercial purposes and the same prices advertised to exchange companies indicating that it was announced, during the meeting, on the sale of a slice of the foreign exchange value of $ 20 million for the purposes of intervention and selling at a price not exceeding 150 Syrian pounds per dollar,” Dr.  Maiyaleh pointed out.

Sh. Kh.