A founder or legal agent (under the authority of a clerk in justice only) shall submit to the Central Bank of Syria / Directorate of the Government Commission at the Banks - Licensing and Registration Section a request for the license of a money exchange institution containing the names of all the founders. If the applicant is a legal agent of the founders.
After checking the application, the applicant will be granted an approved form for the license of the office / exchange company as the case may be.
The form is filled out with required information and stamped with the signature of the legal agent of the founders (this stage requires a legal agent for the founders to be authorized to follow up the licensing procedures of the company) and submit them to the Central Bank of Syria.
The legal agent shall be contacted by an official letter specifying the date of the meeting of the company's founders to ascertain the availability of expertise in their exchange business and the seriousness of establishing the institution. . It should be noted that the study and verification expenses must be paid to the Central Bank of Syria Fund amounting to 5,000,000 SP for exchange companies and 1,000,000 SP for exchange offices.
In the event that the results of the interview are positive, the founders shall be asked by the concerned authorities to confirm their good conduct. In the event of positive receipt, the Commissioner shall be approached to follow up the licensing procedures of the company with the license documents specified in the executive instructions of Law No. 24 of 2006 issued by the Monetary and Credit Council Resolution No. 201 / M / B 4) for the year 2006
Law No. 24 of 2006
Executive Instructions for Law No. 24 issued by Decree No. 201 / M / B 4 of 2006.
Law No. 29 of 2017.