Damascus-SANA
The Central Bank of Syria’s management committee issued a decision that includes instructions for private universities to pay tuition fees in Syrian pounds from resident Syrian students and the like, and in foreign exchange “dollars and euros” from non-resident Syrian students and Arab and foreign students.
In accordance with the decision, which SANA received a copy of, the bank in which the private university opened an account to pay university fees in foreign exchange at the end of each month buys 50 percent of the university’s foreign exchange earnings resulting from fees and commits to sell this amount to the Central Bank in cash. Operational cutting center of the bank.
The aforementioned bank, in accordance with the decision, keeps the remaining 50 percent of the university’s foreign exchange revenues resulting from fees in the university’s account with it, where it can use these amounts in whole or in part to secure its needs of imports and pay the obligations and expenses incurred by it in foreign exchange in accordance with the regulations in force, or the university submits a written request to the bank to sell it These amounts or the remaining part thereof, in turn, to be sold to the Central Bank.
Private universities are obligated to submit a detailed monthly statement to the central branch in the governorate in which their administration is located, including the fees paid to their account in foreign exchange, while banks are obligated to submit a monthly statement through the network to the central within a period of 5 working days at the end of each month, while the central branch checks the statements received from universities and the attached notices and matching the values with the amounts purchased from the banks.
The decision included an article about violations and settlement allowances, including that in the event that the university does not commit to submitting the monthly statement within the specified period or fails to pay the examination audit commission, it shall pay a settlement allowance of two thousand Syrian pounds for each day of delay in submitting both or one of them until the examination is submitted and the commission is paid.
Based on the decision, when the university fails to pay the university fees in foreign currency and pay them in Syrian pounds, it will have to pay a settlement allowance in Syrian pounds, twice the value of the violation. These fees are for the benefit of the Central Bank and are deposited into the account of violations and fines of the cutting systems.
Waseem Al-Adawi