Paying Contract Stamp Fees
Service Documents:
Payment Notices: Notices issued by the Service of Foreign Banknotes.
Requirements:
A book organized by the relevant departments.
Service Classifications:
Governmental bodies.
Service Documents:
A. If the sum does not surpass 25,000 SYP, the mutilated banknotes must be accompanied by the following documents:
1. A copy of the banknote depositor's personal or military identification, or a transcript of civil status in case of ID loss.
2. A signed declaration by the depositor containing their full name, including father's name, residential address, contact telephone number, national number, personal or military ID number, and specifying the deposited amount numerically, along with the rationale for the defacement or damage of the banknotes.
B. In cases where the sum exceeds 25,000 SYP, the submission of mutilated banknotes necessitates the provision of the following documentation:
1. A copy of the banknote depositor's personal or military identification, or a transcript of civil status in case of ID loss.
2. A signed declaration by the depositor containing their full name, including father's name, residential address, contact telephone number, national number, personal or military ID number, and specifying the deposited amount numerically, along with the rationale for the defacement or damage of the banknotes.
3. An officially authenticated duplicate of the police report, detailing the circumstances surrounding the defacement of the banknotes and the declared sum, provided it is dated no more than one month prior to submission.
Service Classifications:
- Citizens.
- All other bodies.
Service Fees:
10% of the amount agreed to be paid.
Banks participating in the Syrian Gross Settlements
1- Banque Bemo Saudi Fransi – Syria
2- Bank of Jordan Syria
3- Syria Gulf Bank
4- Byblos Bank – Syria
5- Arab Bank – Syria
6- Bank of Syria and Overseas
7- AL Baraka Bank – Syria
8- Ahli Trust Bank – Syria
9- Qatar National Bank – Syria
10- Syria International Islamic Bank
11- Cham Bank – Syria
12- Bank Al-Sharq – Syria
13- Fransabank – Syria
14- Commercial Bank of Syria
15- International Bank for Trade and Finance – Syria
16- Syrian Real Estate Bank
17- Popular Credit Bank
18- Saving Bank
19- Industrial Bank
20- Agricultural Cooperative Bank
In addition to the Ministry of Finance’s participation in the Syrian Gross Settlements system as direct participants, pursuant to the Central Bank of Syria’s Management Committee Decision No. (1142/M.C), dated 14 September 2021.
The Central Bank of Syria continues not to charge any commissions or expenses on the Syrian gross settlement system.
Monetary and Credit Council Decision No. (92/M.C.C), dated 9 July 2018, states that the Central Bank of Syria will continue not to charge any commissions or expenses on the Syrian Gross Settlements System (SYGS).
Modifying the upper limit for remittances in the Syrian Gross Settlements System (SYGS).
The maximum limit for individual remittance has been adjusted to 20 million Syrian pounds. Concurrently, the quota for daily transactions remains restricted to 30 transactions per day. These modifications adhere to the directives outlined in Monetary and Credit Council Decision No. 174/2, issued on 8 February 2018.
A. Service Description:
Inquiry Regarding Returned Checks issued by customers, whether natural or juridical persons, and drawn on banks operating within the Syrian Arab Republic. The applicant is duly notified of the inquiry.
Inquiry into the specifics of the returned checks issued by the applicant. Individuals listed under restricted check dealings can apply to settle their checks through the respective banks on which these checks were drawn.
B. Service fee: 1000 SYP.
C. The required settlement documents for returned checks include the following: Customers seeking to remove their names from the list of restricted check dealings and settle the returned checks must submit a request accompanied by the following documents:
- A copy of the drawer’s personal ID, or a duly certified copy of the power of attorney if the client is a natural person, or a letter stating representation or authorization if the client is a legal person, accompanied by a copy of the personal ID of the agent or authorized person.
- A letter from the relevant bank confirming the settlement of the check's value, supported by a settlement statement as per Form No. /3/.
- A copy of the client's account statement with the relevant bank, demonstrating the payment method for the value of the returned check, or a notarized settlement agreement between the client and the final beneficiary, indicating the decision of the matter and the drawer’s exoneration in accordance with Form No. /4/.
- In cases where the drawer seeks to settle the returned check but the beneficiary is unreachable, the value of the returned check may be deposited into a special account in the beneficiary's name at the bank, with expenses covered by the drawer. Additionally, proof of this transaction must be submitted to the Banking Supervision Department at the Central Bank of Syria through the relevant bank for the drawer’s exoneration and the removal of the client's name from the list.
Service Description:
Operations within the exchange window are suspended during the final five days of each month.
Service Classifications:
1. Citizens.
2. Businesses.
3. Governmental bodies.
4. Civil organizations.
Service Description:
Addressing a complaint submitted to one of the operating banks and financial institutions subject to the supervision of the Central Bank of Syria.
- Service Details:
Explanatory Instructions for Submitting a Complaint:
First: Procedures to Follow Before Submitting a Complaint to the Central Bank of Syria:
A. The complainant should thoroughly review the terms of the contract or agreement with the bank to ensure they do not conflict with the subject of the complaint.
B. Prepare a written complaint and first submit it to the same body against which the complaint is made.
C. Upon direct submission of the complaint, the relevant body provides the complainant with a stamped document containing the complaint number, its date, and the expected response time. This response should be issued within five working days of the complaint submission date. The complainant retains this document until receiving a written response from the relevant body.
D. After the specified period mentioned in the preceding paragraph elapses, the complainant should review the body to which the complaint was submitted. They should expect to receive a duly signed and sealed response from this body. If there is no response, an unexplained delay, or if the complaint is entirely rejected without valid reasons, the complainant may refer the matter to the Central Bank of Syria. In the referral, they should explain the nature of the complaint, highlighting the lack of response, delay, or rejection.
If the complainant still wishes to submit a complaint to the Central Bank of Syria after thoroughly reviewing the contract terms, receiving a response from the complained-against body, providing evidence refuting the justifications provided by the body, and supplying sufficient documentation to convince the Central Bank of Syria of the validity of their claim, they may proceed with submitting the complaint. The complainant should adhere to the requirements outlined in the following paragraphs.
Second: Required Documents for Submission with the Complaint to the Central Bank of Syria:
A. A stamped and sealed copy of the response received from the complained-against body, as outlined in Paragraph 1/D above.
B. Copies of all supporting documents and evidence that clarify and substantiate the contents of the complaint. Examples include loan contracts, settlement agreements, delivery and reporting notifications, and any relevant documents.
C. A clear copy of the complainant’s ID (both sides).
D. A statement detailing all procedures undertaken prior to submitting the complaint. This should include whether any other entities were consulted regarding the complaint, along with copies of all related correspondence and responses. Additionally, any steps taken after submitting the complaint to the bank should be reported to the Central Bank of Syria.
E. A statement indicating whether the complaint is currently pending before a judicial authority. If so, the Central Bank will not consider the complaint.
F. If the complaint is being submitted by an agent on behalf of the complainant, the agent must provide a copy of the valid and notarized official power of attorney.
I. Completion of the Complaint Form with all Required Data (available from the Central Bank with all the stamps), ensuring the inclusion of the following mandatory information:
a) Clear and detailed description of the complaint, specifying the required actions.
b) Telephone number (both landline and mobile).
c) Fax number (if available).
d) Full address.
e) Date of submission of the complaint to the Central Bank.
f) The complainant's signature on the declaration provided at the end of the complaint form, certifying the accuracy of all information provided under the complainant's responsibility.
Third: Note: The Central Bank of Syria does not investigate the following complaints:
A. A. Complaints that have not been formally submitted in writing to the same body against which the complaint was made, as outlined in Paragraph 1/D above.
B. Complaints that conflict with the terms of the agreement or contract signed between the bank and the client submitting the complaint, unless any of the terms violate public order and applicable regulations.
C. Complaints related to the bank’s policies and internal systems in accordance with applicable laws and regulations. Examples of such complaints include issues related to mediation with entities supervised by the Central Bank of Syria, such as the bank's refusal to grant a loan and schedule and settle troubled loans, or rejection to request for an additional payment period, and reduction of interest and commissions, etc.
D. Complaints that are pending before judicial authorities (even if the complaint is filed after submitting the complaint to the Central Bank) should be directly reported to the Central Bank of Syria by the complainants under their responsibility. In such cases, the consideration of the complaint will be suspended until the court issues its final ruling, and the Central Bank of Syria is informed of the outcome.
E. Complaints that were previously submitted to the Central Bank, and the applicant was duly informed of the response.
F. Complaints that are not clear and have no specific content, or those that contain merely false and malicious allegations.
G. Complaints that violate these instructions, or those that do not contain the mandatory data required for consideration.
Fourth: Note that the Central Bank of Syria will directly review the subject of the filed complaint and take all necessary measures. The complainant or their legal representative will be contacted via the specified telephone numbers to promptly inform them of the outcome once it is determined.
Fifth: If the complainant's situation is resolved, if the requests are responded to by the body against which the complaint is submitted, or if the complainant wishes to withdraw the complaint for certain reasons, an official letter must be submitted to the Central Bank of Syria subsequent to the filed complaint. This letter should explain all the reasons necessitating the withdrawal.
1. Service Classifications:
Natural and juridical persons affected by their dealings with the relevant authorities (operating banks and financial institutions subject to the supervision of the Central Bank of Syria).
2. Implementation Rate in Days:
The period varies according to the type and subject of the complaint, as well as the procedures required for resolution. It begins with addressing and communicating with the authorities concerned with the complaint and concludes once the complainant receives a response.
Service Documents:
3. Supporting Documents for the account's authorized signatories, such as appointment decisions and direct work orders: Original or certified copies by the competent authority.
Service Fees:
10,000 SYP.
Service Classifications:
Businesses.
Service Documents:
In addition to the requirements mentioned above, the following documents must be submitted when opening an account:
In accordance with public banks:
A. Decree, law, or deed of the establishment of the bank.
In accordance with private banks and exchange institutions:
A. License or decision authorizing banks/companies to practice the profession issued by the Presidency of the Council of Ministers.
B. Decision to register in the register of banks/companies with the Banking Supervision Department issued by the Management Committee.
C. The bank/company's Deed of Association.
D. Certified commercial register dated no more than a month ago.
E. Minutes of the first board of directors meeting, including approval of the Chairman and members of the Board of Directors, and the authorized signatories for account management.
F. Certified copy of the bank/company's Articles of Association.
G. Monetary and Credit Council’s Decision approving the licensing of an exchange company or office.
In accordance with financial brokerage companies:
A. Certified commercial register dated no more than a month ago.
B. Copy of the minutes of the first Board of Directors meeting specifying signature rights.
C. Certified copy of the final licensing decision issued by the Borad of Commissioners of the Commission on Financial Markets and Securities.
D. Certified copy of the direct order issued by the Board of Commissioners of the Commission on Financial Markets and Securities.
E. Certified copies of the decision of the Board of Directors of Securities Exchange accepting the company’s membership in:
- Damascus Securities Exchange
- Clearing and Depository Center
Damascus Securities Exchange
- The Council of Ministers’ decision to form the Board of Directors of Damascus Securities Exchange.
- The Council of Ministers’ decision to appoint the Executive Director.
Service Fees:
10,000 SYP.
Service Classifications:
Businesses.
Service Documents:
The management committee’s decision to open the above-mentioned account.
Service Fees:
10,000 SYP.
Service Classifications:
Businesses.
A. Service Description: Banks and social banking financial institutions operating in the Syrian Arab Republic are obligated to conduct credit inquiries before granting or renewing a facility. In accordance with relevant decisions, the credit status of the client (natural or juridical person) is assessed within the banking sector. This service is provided upon request submitted by the client to the desired bank or social banking financial institution for the services the customer wishes to access (direct or indirect facilities).
B. Service Documents: The customer is required to submit the application to the bank or institution they wish to deal with, accompanied by the following documents:
- An inquiry request according to the approved form (Form No. 4).
- A certified copy of the register authorizing the practice of the profession (commercial/industrial/tourist register…).
- A copy of the identification document of the person submitting the request (personal ID with the national number/passport for non-Syrian residents).
C. Service Fees:
Service Description:
Receipt of checks by public authorities accompanied by a request to collect the check
Service Documents:
A letter from a public body accompanied by a check to be collected. The check must be endorsed in favor of the Central Bank."
Service Fees:
Postage fees and commission: 0.1 per thousand (except for entities exempt from commission).
Service Classifications:
Governmental bodies.
Implementation Rate in Days:
20 working days.
Service Documents:
Service Classifications:
1. Citizens
2. Businesses.
3. Governmental bodies.
4. Civil organizations.
Service Documents:
Payment Notices: A notice issued by the Service of Foreign Banknotes.
Requirements:
A letter issued by the Ministry of Finance.
Service classifications:
Governmental bodies.
Service Documents:
Service Classifications:
Governmental bodies.
Service Documents:
Requirements:
Service Classifications:
Citizens
Implementation Rate in Days:
1 working day.
Service Description:
Issuing all checks drawn abroad.
Conducting all transfers in foreign currencies in Syria and abroad.
Service Documents:
Service Fees:
Requirements:
Service Classifications:
Governmental bodies.
Implementation Rate in Days:
2 working days.
Service Description:
Verifying documents related to settling a returned check for customers in accordance with the requirements of the decisions of the Monetary and Credit Council.
Service Documents:
Service Classifications:
1. Businesses
2. Governmental bodies
Implementation Rate in Days:
10 working days.
Service Documents:
Requirements:
The latest statement of deposit data submitted by citizens.
Service Classifications:
Citizens.
Implementation Rate in Days:
60 working days.
Service Descriptions:
Service Documents:
Service Classifications:
Citizens.
Implementation Rate in Days:
15 working days.
A. Service Description:
The Risk Centralization Department, in coordination with the Directorate of Foreign Relations at the Central Bank of Syria, contacts operating banks in the Syrian Arab Republic to assess the credit status of projects covered by Investment Law No. 10 of 1991 and Legislative Decree No. 8 of 2007. This service is available for project owners seeking to liquidate and settle their investment projects.
B. Service Documents:
- Copy of personal ID for each project partner.
- Certified copy of the company’s registration certificate.
C. Service Fees:
No fees.
Service Documents:
Requirements:
Service Classifications:
1. Businesses.
2. Governmental bodies.
Implementation Rate in Days:
7 working days.
