The Syrian Postal Corporation announced the activation of a service to exchange old and worn currency for new bills, starting Sunday, January 11, through a wide network of authorized post offices across various Syrian governorates. This step comes as part of the government's efforts to facilitate cash transactions for citizens and reduce overcrowding at banks.
In a press statement, the Director General of the institution, Imad al-Din Hamad, confirmed that the institution had completed all logistical and administrative preparations to ensure the smooth launch of the service. Hamad said, "The Syrian Postal Corporation has finalized all necessary arrangements to guarantee the efficient operation of the service and its easy and convenient delivery to citizens through a wide network of geographically distributed post offices.".
Map of accredited centers in Damascus and its countryside
The organization explained that the current phase includes a number of vital centers, with the following centers identified in the Damascus Governorate :
- The central hall in the Hejaz region.
- Bab Musalla Center.
- Al-Qasaa Center.
- Immigrant center.
- Solidarity Center.
- Al-Jalaa Center.
- University Center.
In the Rif Dimashq Governorate , the list included:
- Main hall.
- Damascus suburb.
- Jaramana.
- The covering.
- Our cotton.
- Sayyida Zeinab area.
- Yabroud.
- Always.
The Director General of the institution promised that new post offices and outlets would be announced in the coming period to cover wider geographical areas, which would contribute to easing the burden of travel for citizens wishing to exchange their banknotes.
The economic context and the importance of the decision
This step is particularly important given the Syrian economy's heavy reliance on cash transactions in daily life. With frequent circulation, banknotes are subject to damage and wear, necessitating a flexible and rapid replacement mechanism to ensure the smooth functioning of the economy. Maintaining the quality of banknotes in circulation is a core responsibility of central banks worldwide, as it reflects confidence in the national currency and facilitates the operation of electronic counting and sorting systems.
The activation of the Syrian Postal Service's role is based on Central Bank of Syria Governor's Decision No. 706, which specifies the entities authorized to carry out currency exchange operations. This decision aims to expand the service network to include, in addition to operating banks and licensed exchange and money transfer companies, widely accessible public institutions such as the Postal Service.
Integration of roles between financial and service institutions
The Syrian Postal Corporation's entry into the financial and banking services sector represents a strategic move to leverage the extensive infrastructure of the Syrian Post, which has branches in even the most remote and rural areas where private banks may not have access. This integration of the Central Bank's monetary policy with the postal service infrastructure ensures that financial services reach a wider segment of the public and enhances the efficiency of money supply management in Syrian markets.
