The Central Bank clarifies the mechanism for requests (import financing) from exchange companies

Damascus-SANA

The Central Bank of Syria asked licensed exchange companies to commit to accepting requests for financing imports for import “approvals” licenses and to schedule their financing operations according to priorities under the supervision and control of the bank.

The bank stressed, in a circular to its branches and licensed exchange companies operating in Syria, that SANA received a copy of the need for the importer wishing to obtain financing for his imports from one of the licensed exchange companies to submit the financing request, accompanied by an original copy and a copy of the license or approval of import to one of these companies, within the fastest time from the date of Grant him leave or 'consent'.

He explained that this procedure aims to enable the importer to ensure that his requests are included in the financing schedule during the validity period of the import permit, provided that he does not ship his imports before ascertaining the value of the amount of financing allocated to him according to the funding priorities scheduling and the commitment not to ship goods whose value exceeds the value of the financing allocated to him if not He does not have another source of financing in line with the permissible sources of financing in accordance with the decisions of the bank.

According to the bank, this circular came as a continuation of the procedures for the circular issued on December 29-2021, which includes a request from importers wishing to obtain financing in foreign exchange from licensed exchange companies to review one of these companies within a week of obtaining an import “approval” license.