Syrian merchants refuse to consent to new bank withdrawal limits, which are stifling ...Syria

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Syrian merchants refuse to consent to new bank withdrawal limits, which are stifling

Homs – Orwa al-Mundhir Last March, Syria’s economy experienced one of its most turbulent downturns as the Syrian pound hit its lowest value since 2011, prompting the Central Bank to intervene with monetary policies aimed at controlling financial liquidity in markets and banks.  Although the Central Bank of Syria (CBS) announced a fixed daily cash withdrawal limit of 15 million pounds (5,500 USD at the time) from its branches in November 2020, merchants and businessmen told Skey news that the limit was capped again to two million pounds (571 USD) in the capital Damascus. Enab Baladi also monitored similar limit curtails in the governorates of Aleppo and Homs, to one million pounds (285 USD) a

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