Assads’ Inbox: On Syrian currency advice

Subject: SP
From: Khaled al Ahmad
Date: 29/11/2011 04:08
To: [e-mail]

I had an important meeting with Jordanian and Lebanese bankers, where our main discussion was on how to retain the Syrian pound exchange rate based on previous experiences in the area. Their recommendation was to adopt a policy wherein we shut down foreign exchange offices as their owners have accumulated a fortune out of trading Syrian currency, and make currency trading limited to private and public local banks due to their inability to manipulate. The second advice is to conduct a central bank auctions inside licensed banks to have morecontrol on it and not through private currency companies, as is the case now.

Truly yours,

Khaled