- Service Description:
Permitting foreign banks and other financial institutions to open representative offices in Syria
- Service Documents:
✔ Notice of payment of registration expenses of 1.5 million Syrian pounds.
✔ Registration certificate issued by the Ministry of Economy and Foreign Trade.
- Service fees:
✔ Examination and study expenses.
✔ Registration expenses.
- Service classifications: Business
- Service Description:
Approval of licensing financial leasing and Islamic leasing companies per the provisions of the Legislative Decree No. 88 of 2010 and the executive instructions of Decision No. 3418 dated 29/12/2011.
- Service documents:
✔ The phase of expressing interest in establishing a financial leasing company.
✔ Duly dated and signed formal application applied by the founders to express intention to establish a company.
Including the following data: The name of the company to be licensed along with its capital and main center, its strategic partner whose contribution percentage shall not be less than 25%, as well as data on the names of the rest of the founders, their nationalities, and the percentage of contribution of each one of them, in addition to the curriculum vitae of each founder, the type of activity they practice, and their addresses.
1. The phase of expressing interest in establishing a financial leasing company.
✔ Detailed data on the founders regarding their experiences and knowledge in the financial leasing field or Islamic leasing.
✔ Names and addresses of the representatives authorized to follow up on the license application.
✔ The phase of expressing interest in establishing a financial leasing company.
✔ Names and addresses of the representatives authorized to follow up on the license application and official credentials.
✔ A copy of the budget of legal persons contributing to the project:
1. The phase of expressing interest in establishing a financial leasing company.
● Certified copies of the last three duly audited budgets of legal persons contributing to the establishment.
✔ License application: The phase of applying for a license.
✔ Duly licensed application according to the approved form
✔ The company's Articles of Association: The phase of applying for the licensing of the deed of association and the company's articles of association.
✔ Organizational structure: Phase of applying for a license.
✔ Economic feasibility study: The phase of applying for an economic feasibility study of the company, the strategic plan, and the expected financial statements for the next five years.
✔ Data on the names of the members of the board of directors:
1) License application phase
✔ Data on the names of the chairperson and members of the board of directors and the general manager of each legal entity contributing to the founding of the company, their nationalities, and the percentage of their contribution to the capital of these entities.
✔ Regulatory authority approval:
✔ The phase of applying for a license.
✔ Approval of the foreign entity’s regulatory authority at the company’s headquarter.
✔ Company Registration Application: registration phase.
✔ Submit a duly dated and signed application from the company for registration, along with the required data hereunder.
✔ Address of the company's headquarter:
2) Registration phase
✔ The company’s main center address and contact details (mail-phone-fax).
✔ Statement of the expected date of commencement of work.
✔ Registration phase.
✔ Expected date of commencement of work.
Financial guarantee
Registration phase
Providing a financial guarantee of 10% out of the company's capital for the Central Bank of Syria or the Real Estate Finance Oversight Commission, according to the company's purpose.
- Payment notice:
Registration phase
Payment notice issued by one of the operating banks, which includes information about the company's capital.
- Payment notice:
Registration phase
Payment notice that includes information about the company's registration expenses at the Treasury of the Central Bank of Syria
Company registration certificate:
Registration phase
Company registration certificate listed in the Commercial Register.
- Copy of the decision permitting licensing:
Registration phase
Copy of the decision permitting licensing published in the Official Gazette.
- Copy of the company's articles of association.
- Registration phase
Certified copy of the company's articles of association issued by the Ministry of Internal Trade and Consumer Protection.
- Data on the names of the members of the board of directors:
Registration phase
- Names of the members of the board of directors and the CEOs of the company.
- Undertaking:
Registration phase
Undertaking to inform the Central Bank of Syria of the amendments that might occur to the provisions in the register of financial leasing companies and Islamic leasing companies.
Statement of all by-laws and statutes set by the company:
Registration phase
Providing all systems set by the company (personnel and operations systems)
- Requirements:
- Approval by the Real Estate Finance Oversight Commission, if the company’s purpose is real estate finance.
- The issuance of the decision approving the license by The Central Bank of Syria.
- Approval of company registration and commencement of work.
- Consent to provide any other information application by CBS.
- Service Classifications:
Citizens
- Service Description:
Permitting the establishment and operation of social banking financial institutions under the supervision of the Central Bank.
Service documents:
- License application: License application form.
- Deed of Association: Three copies of the company’s deed of association and the articles of association draft.
- Payment Notice: Payment of 100.000 Syrian pounds as expenses for examining the application.
- Organizational structure: The proposed structure of the institution.
- Economic feasibility study: a serious, detailed, and accurate study of the institution's economic feasibility, in addition to the estimated budgets of the first three years of the institution to be established.
- Notarized power of attorney: Duly certified notarized power of attorney received by the agent to follow up on the licensing and registering procedures for the institution.
- Approval by the Minister of Finance: The Minister of Finance’s approval of the Syrian public banks' contribution to the institution establishment.
- Undertaking: An undertaking to provide any information or documents requested by the Central Bank of Syria to complete the study of the license application by the person authorized to follow up on licensing and registration procedures.
- Data on the expertise and knowledge: a summary of the expertise and knowledge possessed by the legal partner in the field of small and microfinance activities and other financial and banking services, which are provided to specific segments of the population.
- Estimated budget: The final budgets for the last three years of each of the legal entities contributing to the establishment that are duly audited by an external auditor.
- Data on the board of directors: Data on the names of the chairperson, members of the board of directors, partners, shareholders, and the general manager of each legal entity contributing to the establishment of the company, their nationalities, and their shares in the contributing legal entity.
- Approval of the regulatory authority: Approval by the regulatory authority of the foreign authority contributing to the establishment in case it is subject to special regulatory authority.
- Data on the names of companies and institutions: Data on the names of the companies and institutions to which each founder contributes, the amount of his or her contribution, the membership in the boards of directors, a clarification of whether he or she is a general manager, and the nationalities of these companies and institutions and their headquarters.
- Statement of the financial situation: A statement of the financial situation of each of the general partnership companies, commercial, industrial, or service businesses, and the agricultural property owned or co-owned by each founder and the type of its activity. The statement should be certified by a chartered accountant and by the relevant chambers.
- Statement of the financial information for the natural founders: a statement of the financial information and an accurate assessment of the financial liabilities of each of the founders, as well as any significant useful information for examining the application and whether one of them has declared bankruptcy in the past.
- Curriculum Vitae (CV): A detailed curriculum vitae (CV) for each founder should be provided, outlining their professional and banking experience, as well as their academic qualifications.
- Data on work and familial connections: Data on familial and work connections (blood relatives or in-laws) between the founder and the rest of the founders or between the founder and the chairpersons, members of the boards of directors, and the general managers of companies and institutions contributing to the establishment of the institution.
- Personal ID: A copy of the personal ID and an unexpired proof of residence of each founder individually.
- Criminal record extract: An unexpired criminal record extract of each founder.
- Commercial registry: Certified copy of the commercial registry if the person is a registered tradesman, or a statement of the opposite in case of otherwise.
- Proof of residence: An unexpired proof of residence for members of the board of directors of the legal entity participating in the establishment.
- Licensing decision: A licensing decision issued by the Monetary and Credit Council.
- Data on the institution: A detailed letter showing:
- Main center address, E-mail, telephone, and fax number.
- The capital of the institution and the names of the partners, their nationalities, their addresses, their share percentage separately according to the capital, and the amount of this share.
- Account opening Application: An application by the founders to open a Syrian pound account and a foreign currency account to deposit their capital contributions, and a special account for the frozen deposit of 5% of the capital.
- Payment notice: Receipt of notifications confirming that the founders have successfully paid their capital contributions.
- Transfer notice: Receipt of a notification confirming the complete transfer of the subscription value to the institution's accounts opened for this purpose at the Central Bank of Syria.
- Deposit notice: Receipt of a notification confirming the deposit of 5% of the capital into a frozen account in the name of the institution at the Central Bank of Syria.
- Certificate of registration issued by the Chamber of Commerce: Duly certified copy of the company's commercial registry.
- Company’s Articles of Association: A copy of the company’s articles of association. The company’s articles of association approved by the Monetary and Credit Council must be certified by The Ministry of Economy.
- Licensing decision: Copy of the license decision published in the Official Gazette.
- Minutes of Meeting: A copy of the minutes of the meeting of the founding general assembly certified by the Ministry of Economy and Foreign Trade, and a copy of the minutes of the first board of directors meeting.
- Statement of Board of Directorates Members: The Names of the board of directors’ members, partners, contributors and the of general manager.
- Data on the names of the members of the board of directors: List of names of each of the members of the board of directors, partners, and shareholders, as well as the name of the general manager.
- Payment Notice: Payment of 150.000 thousand Syrian pounds as expenses for listing the institution in the register of financial and social banking institutions.
- Commitment/Declaration: The date of expected commencement of work.
- Undertaking: An undertaking by the institution to inform the Central Bank of Syria of any amendments to the recorded provisions in the Register of Financial Institutions. As well as to provide all the statutes and bylaws set by the company (the workers statutes after being certified by the Ministry of Social Affairs and Labour – The system of operations carried out by the company in order to be approved duly).
- Service Fees:
- Examination and study expenses.
- Registration expenses.
- Service Classifications:
Citizens
- Service Description:
Permitting the establishment of new private banks
- Service documents:
- Form: Expresses the interest in establishing a bank.
- Financial solvency under a guarantee or a bank transfer by an approved bank: A statement of the financial solvency and receivables of each of the founders, including the duly audited financial statements for the last three years of the legal persons, and a statement of capital adequacy before and after the establishment.
- Statement of Criminal and Administrative Sanctions: A comprehensive statement detailing any criminal convictions or administrative penalties previously imposed on any of the founders.
- Names of Authorized Representatives: A recent notarized power of attorney granted to the authorized representative to follow up on licensing and registration procedures.
- Economic feasibility study: A copy of the economic feasibility study for the establishment of the bank.
- The company’s Articles of Association: Duly certified articles of association of the legal entities participating in the establishment and its commercial register.
- Curriculum Vitae of Founders and Board Members: Each individual founder must provide a signed and dated CV that clearly outlines their previous experience, current activities, and current residence.
- Data on the names of members of the board of directors: Data on the names of the members of the board of directors of the contributing legal entities and data on the names of the major shareholders.
- Application: Official license application.
- Approval of the public sector’s contribution to the bank: Approval of the competent supervisory authority for the Syrian public sector’s contribution to the establishment.
- Organizational structure: An organizational structure of the bank to be established.
- Economic feasibility study: A detailed and accurate study of the economic feasibility of the bank to be established.
- Estimated budget: The estimated budget for the first three years of the bank to be established.
- Data on the names of the companies in which the founders contribute: Data on the names of the companies and institutions in which each legal founder contributes, the amount of the founder contribution, his/her membership in the boards of directors, and clarification of whether he/she is a general manager, the nationalities of the companies and institutions, and the addresses of their main headquarters.
- Statement of financial situation: A statement of the financial situation of joint liability companies or stores.
- Statement of the financial situation: A statement of the financial situation of each of the joint-liability companies, commercial, industrial, or service companies, and the agricultural property owned or shared by each natural founder, and the type of activity. The statement should be certified by a chartered accountant and by the relevant chambers.
- Statement of the financial solvency: A statement of the financial information and an accurate assessment of the financial liabilities of each of the legal founders, as well as any significant useful information in examining the application and whether one of them has declared bankruptcy in the past.
- Payment Notice: Payment of 500.000 Syrian pounds for examination and investigation expenses.
- Curriculum Vitae: A detailed CV indicating the professional and banking expertise and the academic qualifications of each founder.
- Statement of work and familial connections: A statement of familial and work connections (blood relatives or in-laws) between the founder and the rest of the founders or between the founder and the chairpersons, members of the boards of directors, and the general managers in companies and institutions contributing to the establishment of the institution
- Copy of personal ID: A copy of the personal ID and an unexpired proof of residence for each founder individually.
- Criminal record extract: An unexpired criminal record extract of each founder.
- Data on the names of the members of the board of directors of the contributing legal entity: Data on the names of the chairperson and the board of directors’ members and the general manager of each legal entity participating in the establishment of the bank, their nationalities, and their shares in the contributing legal entity.
- Statement of Shareholdings of Key Executives: A comprehensive statement detailing the shareholdings of the chairperson of the board of directors, board members, and general manager in other companies and institutions. This statement must specify the names of the companies and institutions involved, as well as the number of shares held by each individual in those entities.
- Financial information of the board members: financial information and creditworthiness statement for each Board Member is required. This statement, verified by a certified accountant, must provide a detailed overview of their financial situation, including a thorough assessment of their creditworthiness and any relevant material information regarding their financial history. Additionally, the statement must disclose if any board member has filed for bankruptcy in the past. the statement must also be endorsed by the relevant Chamber of Commerce and Industry or Chamber of Agriculture.
- CV: A detailed statement indicating the professional and banking experiences and the academic qualifications of the board of directors and members of the boards of directors of legal entities contributing to the establishment of the bank.
- Statement of work and familial connections: A statement of familial and work connections between the founder and other natural founders.
- Personal ID: A copy of the personal ID and an unexpired proof of residence for each of them.
- Criminal record extract: An unexpired criminal record extract of each of them.
- Licensing decision: Licensing decision issued by The Presidency of Council of Ministers.
- Registration application: An application for listing the bank in the banking registry at the Banking Supervision Department, including the following: Authorized capital, paid capital, and the expected date of commencement of work. The number of subscribed shares, the nominal share value, the number of shareholders, the value of subscriptions in Syrian pounds and US dollars, the coverage ratio, and a copy of the allocation decision attached to a table that includes the names of shareholders and the number of shares owned by each of them, both in a hard copy and an electronic copy form. Headquarters address - E-mail, telephone number, and fax.
- Account opening Application: An application by the founders to open an account in Syrian pounds and a foreign currency account under the name of the bank under established in order to deposit their capital contributions.
- Payment of capital contributions: Receipt of confirmation notices indicating that the founders have paid their respective capital contribution percentages in accordance with the laws and regulations in force at the Central Bank of Syria.
- Transfer of subscription value: A transfer notice indicating that the entirety of the subscriptions value has been transferred to the current opened accounts opened at the Central Bank of Syria.
- Minutes of meeting: A copy of the minutes of the meeting of the founding general assembly certified by the Ministry of Economy and Foreign Trade, and a copy of the minutes of the first board of directors meeting.
- Application to open a frozen account: An application to open an account in Syrian pound currency and foreign currency under the name of the bank at the Central Bank of Syria.
- Bank registration certificate in the commercial registry.
- Payment notifications: Payment of 3 million Syrian pounds for the bank registration expenses.
- Licensing decision: A copy of the licensing decision published in the Official Gazette.
- Company’s Articles of Association: A copy of the duly certified articles of association by the Ministry of Economy and Foreign Trade.
- Data on the names of the members of the board of directors: The name of the chairperson, members of the board of directors, and the general manager, attached to a table with the required information according to the data in the banking registry.
- List of the founders' names: Natural and legal founders, attached to a table with the required information according to the data in the banking registry.
- List of subscribers: A hard copy and an electronic copy of the shareholders' names.
- Application for approval to nominate the general manager: The application should contain the name of the proposed general manager to be approved for appointment by the Central Bank of Syria.
- Undertaking by the bank: To provide all the bank by-laws, I.e. the worker’s statute, after its approval by the Ministry of Social Affairs and Labour, as well as to provide the manual of the policies and procedures (banking operation system) to be duly adopted.
- Informing the Central Bank of Syria of the amendments that might occur to the recorded provisions in the banking register.
- Criminal record extract: An unexpired criminal record extract of each member of the board of directors and the general manager.
- Curriculum Vitae: The general manager.
- Registration and Capital Liberation decision: The Registration and Capital Liberation decision is issued by the Central Bank of Syria Management Committee.
- Account opening application: An application by the founders to open an account in Syrian pounds and an account in foreign currencies under the name of the bank under establishment, to pay their capital contributions.
- Payment of capital contributions: Receipt of notifications of the percentages of the founders’ payment contributions in accordance with the laws and regulations in force at the Central Bank of Syria.
- Transfer notice: Receipt of notification of full subscription value transfer to the accounts of the bank under establishment opened at the Central Bank of Syria.
- Minutes of meeting: A copy of the minutes of the meeting of the founding general assembly certified by the Ministry of Economy and Foreign Trade, and a copy of the minutes of the first board of directors meeting.
- Frozen account opening application: An application for opening an account in Syrian pounds and foreign exchange in the name of the bank at the Central Bank of Syria.
- Bank registration certificate in the commercial registry.
- Payment Notice: Payment of 3,000,000 Syrian pounds as expenses for registering the bank.
- Licensing decision: A copy of the licensing decision published in the Official Gazette.
- Company’s Articles of Association: A copy of the duly certified articles of association by the Ministry of Economy and Foreign Trade.
- Data on the names of the members of the board of directors: The names of the chairperson, the board of directors’ members, and the general manager, attached to a table with the required information according to the data in the banking registry.
- List of the founders' names: Natural and legal founders, attached to a table with the required information according to the data in the banking registry.
- List of subscribers: A hard copy and an electronic copy of the shareholders' names.
- Application for approval to nominate the general manager: Contains the name of the proposed general manager to be approved for appointment by the Central Bank of Syria.
- Undertaking by the bank: To submit all the systems and statutes set by the bank, including the workers system after being approved by the Ministry of Social Affairs and Labor and the policies and procedures manual (banking operations system) to be duly approved, as well as to inform the Central Bank of Syria of the amendments that occur to the items recorded in the banking register.
- Criminal record extract: An unexpired criminal record extract for each member of the board of directors and the general manager.
- Curriculum Vitae: The general director.
- Registration and Capital Liberation Decision: The Registration and Capital Liberation Decision is issued by the Management Committee of the Central Bank of Syria
- Service fees:
- Examination and study expenses.
- Registration expenses.
- Service classifications:
Business
- Service documents:
- License application: A license form for the Joint-stock company according to Form (1/E) and an office licensing form according to Form (2/E) accompanied with a copy of the personal identity – a Curriculum Vitae of each founder according to Form No. (3/E). Inquiry notice - a notice of payment of expenses. Study and examination - a recent, notarized power of attorney to the representative authorized to follow up on procedures, if applicable.
- Meeting with Founders Statement: A meeting with the founders to confirm their serious intention to obtain the license, assess the founders' expertise, prepare a report on the meeting, and obtain signature specimen from the founders and the legal representative (if applicable).
- Proof of Residence: A valid proof of residence document (issued within the past three months) or the proper equivalent in other countries.
- Criminal record extract: Criminal record extract for each founder, issued within the past three months.
- Non-public servant status certificate: A non-public servant status document, issued within the past three months.
- Statement of financial situations: A statement of the financial situations of the founders, signed and dated by the relevant party and certified by a chartered accountant _ Form (4/E).
- Statement of Shareholdings: A statement detailing the companies in which the founder has a shareholding, indicating the amount of their share and their position within the company, accompanied with a copy of the company's registration certificate.
- Statement of Financial Liabilities: A statement of the standing financial liabilities towards local and foreign banks and any other party certified by a chartered accountant.
- Statement of Non-Bankruptcy: A certified statement confirming that the founder has not filed for bankruptcy, certified by a chartered accountant.
- Bank statement: A certified declaration of the founder's bank accounts, both within and outside Syria, accompanied by certificates of good conduct from at least two banks.
- Statement of Founders' Shareholdings in Money Exchange Companies and Offices: A statement outlining the founders' shareholdings in exchange companies or offices, both within and outside Syria, along with the company or office’s address, legal form, nationality, trade name, the amount of such shareholding and its percentage to the capital, if any. If the founder has no shareholdings in any exchange companies or offices, a clear statement to that effect should be included.
- The company's Articles of Association: The draft deed of association for offices or the articles of association for companies signed by the founders in accordance with the form approved by the Monetary and Credit Council.
- Commercial registry: Certified copy of the commercial registry if the person is a registered merchant, or a statement of the opposite in case of otherwise.
- Undertaking: An undertaking not to violate Law No.24 of 2006 and its executive instructions.
- Undertaking: An undertaking to cover the costs of an external study of the application, if necessary.
- Financial Clearance: A financial Clearance by the Ministry of Finance.
- Data on the Names of the Board Members: Including the full names, nationalities, and residences of the chairperson, all board members, and the general manager of the entity. Copies of their personal identification cards or passports should also be attached.
- Curriculum Vitae of the founders and the board of directors’ members: A detailed statement indicating the professional and banking experiences and the academic qualifications of each of the board of directors’ members and the general manager.
- The company’s Articles of Association: Duly certified articles of association of each legal entity.
- Financial statement: Audited and published balance sheet for the most recent fiscal year for each legal entity.
- Statement on Companies and Institutions: A statement clearly indicating whether any of the legal entities own or have a shareholding in banks or other exchange houses in Syria or abroad, and the extent of that shareholding.
- Initial Premises Inspection: To obtain initial approval for the premises, the following conditions must be met:
● Location: The premises must be located in a city, on a main street, or in a commercial market that caters to the needs of local traders and tourists.
● Floor Level: The premises must be located on the first floor, with a minimum area of 30 square meters. For companies, the premises must be located on the ground floor, with a minimum total area of 25 square meters, evenly distributed between the ground floor and mezzanine level.
- Licensing decision: A Licensing decision issued by the Monetary and Credit Council after the certification of the deed of association and the articles of association by the Ministry of Internal Trade and Consumer Protection.
- Registration application: An application to list the company in the Exchange Companies Register of the Banking Supervision Department.
- Notice of payment: A notice of payment of 250,000 SYP as company registration expenses.
- Account Opening Application: An application submitted by the founders to open an account in the Syrian currency and an account in foreign currencies (if it is a non-resident Syrian founder) for the purpose of depositing their capital contributions at the Central Bank of Syria.
- Payment notice: Receipt of a notification confirming the founders' contributions to the company's share capital, made into the company's designated account at the Central Bank of Syria.
- Transfer notification: A transfer notification indicating that the entirety of the subscriptions value has been transferred to the accounts opened for this purpose with the Central Bank of Syria.
- Company’s Articles of Association: A copy of the articles of association certified by the Ministry of Internal Trade and Consumer Protection.
- Registration certificate of a company: A duly certified copy of the company's commercial register.
- Data on the Board Members: Data on the full names of the chairperson and members of the board of directors, their addresses, and the proposed general manager.
- Minutes of meeting: A copy of the minutes of the meeting of the founding general assembly certified by the Ministry of Economy and Foreign Trade, and a copy of the minutes of the first board of directors meeting.
- Data on the names of shareholders: A hard copy and an electronic copy of the names of shareholders, the percentage of each of their contributions, and a copy of the decision to allocate shareholders with the shares offered for public subscription.
- Criminal record extract: An unexpired criminal record extract of each of the members of the board of directors and the general manager.
- Curriculum Vitae of Founders and Board Members: A dated and signed original resume for each member of the board of directors and the general manager. The resume should include, in chronological order, their previous work experience and positions both within and outside the country, current employment, educational qualifications, current residence, and personal phone and fax numbers. A copy of the personal identity card should be attached.
- Non-public servant status certificate: An unexpired document for non-public servant of each member of the board of directors and of the general manager.
- Signature Specimens for Signatories: Copies of signature specimens for the General Manager and authorized signatories of the company, as per the commercial register.
- Undertaking: An undertaking signed by the chairperson of the board of directors and the general manager pledging their commitment to comply with the provisions of Law No. 24 of 2006 regulating the money exchange profession and its executive instructions.
- Data on the company and its branches: The company’s main headquarters’ telephone and fax numbers.
- Governorate Approval for Proposed Headquarters Use: Approval from the governorate for the use of the approved property as the office's headquarters. It is permissible to postpone the submission of this approval until after the commencement of operations in accordance with the applicable decisions in this regard.
- Undertaking: An undertaking to deposit 25% of any reserves held by the company into the bank account in which the 25% cash reserve has been frozen, in accordance with the provisions of Law No. 24 of 2006, and to notify the Central Bank of Syria of each deposit transaction.
- Bank account number: A statement of the account number opened in the name of the company for the purpose of transferring capital to it with banks operating in Syria.
- Premises Final Inspection Application: Notification of completion of Central Bank of Syria's premises requirements in accordance with the approved form pursuant to Monetary and Credit Council decision No. 269/M.C.C Dated 10/4/2007 to conduct the final inspection and submit the inspection report to the Management Committee for final approval in accordance with established procedures.
- Registration Approval: The decision to register the company and grant it permission to operate is issued by the Management Committee of the Central Bank of Syria.
- Registration Application: An application to register the office in the Exchange Offices Register held by the Banking Supervision Department.
- Account Opening Application: Receipt of the founders' application to open a Syrian pound account and a foreign currency account (in the case of a non-resident Syrian founder) to pay the value of their capital contributions to the Central Bank of Syria.
- Deed of Association: A copy of the deed of association certified by the Ministry of Internal Trade and Consumer Protection.
- Payment notification: Receipt for payment of office registration fees to the Central Bank of Syria Fund.
- Name of the office manager: The name of the manager of the exchange office and a specimen of their signature.
- Information about the general manager of the proposed office.
- Unexpired criminal record extract.
- Curriculum Vitae (CV): A dated and original signed CV that includes a chronological overview of the applicant's previous work experience, both within and outside Syria, as well as their current work activities, educational qualifications, and current residence.
- Copy of the personal ID.
- Non-public servant status document.
- Office/Branch Information: Phone and Fax Numbers for the Office Headquarters.
- Undertaking: An undertaking by the manager of the exchange office to comply with the provisions of Law No. 24 of 2006 regulating the money exchange profession and its executive instructions.
- Signatory Signature Specimens: Signature specimens of the authorized signatories of the office, as per the commercial register.
- Governorate Approval for Proposed Headquarters Use: Approval from the governorate for the use of the approved property as the office's headquarters. It is permissible to postpone the submission of this approval until after the commencement of operations in accordance with the applicable decisions in this regard.
- Insurance Contract: A copy of the insurance policy for cash and fixed assets at the company's headquarters.
- Undertaking: An undertaking to deposit 25% of any reserves held by the company into the bank account in which the 25% cash reserve has been frozen, in accordance with the provisions of Law No. 24 of 2006, and to notify the Central Bank of Syria of each deposit transaction.
- Bank account number: A statement of the account number opened in one of the banks operating in the Syrian Arab Republic in the name of the office.
Final Inspection Application: Notification of fulfillment of the Central Bank of Syria requirements.
