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Assad regime allows traders to sell goods in dollar

Mohamed al-Hallaq

The Syrian Central Bank has eased restrictions on foreign exchange dealers inside Syria despite laws prohibiting use of dollars for trade and commercial activities.


Mohamed al-Hallaq, secretary of the Federation of Syrian Chambers of Commerce, said that the governor of the Central Bank had allowed traders to sell their goods in US dollars but on conditions.


 Al-Hallaq explained that if the buyer is a foreigner, Arab, or Syrian expatriate, and he wants to buy from the Syrian market or the fairs, then the merchant can take the price of his goods in dollars.


The new measure seeks to ease restrictions on merchants and their financial activity, without contradicting Decree 3, which focuses on preventing the use of foreign exchange as a means of payments by Syrians.


Issam Hazima, the governor of the Central Bank warned against re-using the foreign exchange earned from the sale to buy goods and goods from the Syrian market.


According to Hazima,  possessing foreign currency is not a legal violation, but the Syrian trader who obtained the foreign currency from selling goods to the foreign trader is prohibited from re-using it to buy any goods from inside Syria with these pieces from any Syrian citizen or Arab residing in Syria because that  It is considered trading in foreign exchange and is punishable by law, referring to Decree 3. 



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