(Eqtsad)- The new Governor of the Syrian Central Bank is trying hard to return the bank to its right path after the effort of his predecessor Adib Mayala during the past few lean years in the life of the Syrian economy to turn the central bank into one of the biggest Syrian exchange offices to steal and legally control US Dollars (USD).
During the past few years, Mayala was unable through his worn out monetary policy to stand in the face of the daily raise in the price of the USD which led the regime to give up on Mayala given he is the manager of the largest exchange office and not the manager for what is known as the central bank.
During the first days of his appointment as head of the regime central bank, Duraid Durgham sought to return the bank to its proper course and give the banks a role in intervention, funding, and sale operations special to the USD.
But the aforementioned does not deny that Duraid Durgham’s monetary policy is contradictory to his predecessor Mayala, which is nothing but part of a new agenda the regime is trying to implement after the failure of Adib Mayala’s five-year plan through intervening in exchange companies which only results in the control of the exchange rates despite all the decisions, attention to laws and international standards.
Durgham today is trying to contain, set boundaries, and set out the real role for companies rather than give full reign to the banks and prepare new roles for them in the USD game.
The decision to appoint Durgham in the central bank came about as an ultimate result of the pressure the regime has suffered from the banks or this decision came after the regime or its employers took complete control over the banks.
The real reason in the change of the rules of the game may have that Mayala benefited from his relationships with the managers of Syrian money exchange companies, Syrian black market businessmen, and he finished the game of repeatedly selling USD away from the role that the central bank plays in financial crisis.
The rules of the game changed except the regime has not changed yet, and this means that Duraid Durgham’s presence, who was dismissed from the Syrian Trade Bank management a few years ago, in the central bank, paints the new features of the USD game but through the banks, traders, and importers.
Mayala controlled the people’s money, sold USD, won and the game ended, but Durgham came to control the banks especially, the import and export operation through funding and facilitation, because the role is assigned by the central bank to exchange companies or (legalized) exchange gangs has ended after these gangs were allowed to steal from citizens’ monies and ransack the central bank. Now it is time to play with banks and businessmen.
In both politics, Durgham’s politics or Mayala’s politics the regime cannot force the USD to retreat as it would want, because identifying the value of the USD cannot be based on a decision as there are other varying economic factors, and reality and the black market have their own standards which are more accurate, and which respond to the reality of the Syrian Pound and its exchange rate. (Translation by Rana Abdul)
During the past few years, Mayala was unable through his worn out monetary policy to stand in the face of the daily raise in the price of the USD which led the regime to give up on Mayala given he is the manager of the largest exchange office and not the manager for what is known as the central bank.
During the first days of his appointment as head of the regime central bank, Duraid Durgham sought to return the bank to its proper course and give the banks a role in intervention, funding, and sale operations special to the USD.
But the aforementioned does not deny that Duraid Durgham’s monetary policy is contradictory to his predecessor Mayala, which is nothing but part of a new agenda the regime is trying to implement after the failure of Adib Mayala’s five-year plan through intervening in exchange companies which only results in the control of the exchange rates despite all the decisions, attention to laws and international standards.
Durgham today is trying to contain, set boundaries, and set out the real role for companies rather than give full reign to the banks and prepare new roles for them in the USD game.
The decision to appoint Durgham in the central bank came about as an ultimate result of the pressure the regime has suffered from the banks or this decision came after the regime or its employers took complete control over the banks.
The real reason in the change of the rules of the game may have that Mayala benefited from his relationships with the managers of Syrian money exchange companies, Syrian black market businessmen, and he finished the game of repeatedly selling USD away from the role that the central bank plays in financial crisis.
The rules of the game changed except the regime has not changed yet, and this means that Duraid Durgham’s presence, who was dismissed from the Syrian Trade Bank management a few years ago, in the central bank, paints the new features of the USD game but through the banks, traders, and importers.
Mayala controlled the people’s money, sold USD, won and the game ended, but Durgham came to control the banks especially, the import and export operation through funding and facilitation, because the role is assigned by the central bank to exchange companies or (legalized) exchange gangs has ended after these gangs were allowed to steal from citizens’ monies and ransack the central bank. Now it is time to play with banks and businessmen.
In both politics, Durgham’s politics or Mayala’s politics the regime cannot force the USD to retreat as it would want, because identifying the value of the USD cannot be based on a decision as there are other varying economic factors, and reality and the black market have their own standards which are more accurate, and which respond to the reality of the Syrian Pound and its exchange rate. (Translation by Rana Abdul)
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