At present, it is not possible to send money of any kind to Syria. No service provider listed on MoneyTransfers.com currently allows users to make international money transfers to Syria. Read on to find out more about these restrictions.
As a result of the civil uprising in 2011, Syria is currently subjected to financial sanctions. Of these restrictions, many of which have been imposed by authorities of the Syrian regime, some of the sanctions are imposed by international banks and businesses who refuse to invest, trade or engage in business of any kind with the country in its current environment. These financial sanctions are in place for anyone living in the UK, the EU and the US, as well as many other parts of the world.
The Syrian Pound (SYP) is the currency used within Syria. According to XE, the most popular Syria Pound exchange rate is the USD to SYP rate. However, use or possession of any currency other than the Syrian Pound is illegal, and penalties will be imposed by regime authorities. Due to the severity of Syria’s economic crisis, the value of the Syrian Pound has dramatically decreased, while prices have rapidly increased.
Residents of the UK: For more information, please visit the website of the Office of Financial Sanctions Implementation, HM Treasury and UK sanctions on Syria.
Jonathan is the founder and editor of MoneyTransfers.com. Jonathan is highly experienced in the currency transfer market, having previously worked in the FX trading industry, alongside being an avid traveller. Using his knowledge he identified a need for transparency and further education to help people save money on their money transfers, leading to the creation of MoneyTransfers.com