Risk Level:
99% May harm your business future; Persons or entities that engage in transactions with this entity will be exposed to sanctions or subject to an enforcement action;

Working with this entity means supporting Iranian Regime, Regime Terrorist Activities & development of WMD

Status:
Top Alert – Entity designated / sanctioned for terror, WMD and human rights violation

Info:
The Central Bank of Syria (CBS) is the central bank of Syria. The bank was established in 1953 and started operations in 1956. Its headquarters are in Damascus, with 11 branches in the provincial capitals. The objective of the bank is “to foster the stability, integrity and efficiency of the nation’s financial and payment systems so as to promote optimal macro economic performance”;

The CBoS has deep banking ties to Iran, the world’s largest state sponsor of terrorism, and the CBoS has been an integral part of the regime’s efforts to increase public revenues and prop up the Syrian currency;

OFAC added the Central Bank of Syria (CBoS) to the SDN List, highlighting its blocked status. The CBoS is already blocked as meeting the definition of the Government of Syria in E.O. 13582 and the Syrian Sanctions Regulations, 31 C.F.R. Part 542. The CBoS oversees monetary policy in Syria, and one of its main functions is the issuance of a national currency, which is exercised by the CBoS solely on behalf of the Government of Syria. The CBoS additionally regulates the operations of private sector banks and money services businesses in the markets and acts as the fiscal and depository agent of the Government of Syria;

The United States has imposed sanctions against the Central Bank of Syria since May 2004, under Section 311 of the Patriot Act, with the Bank being accused of money laundering. The sanctions shut Syria out of the global financial system. To circumvent the sanctions, Syrians effect foreign transactions through banks in neighbouring countries, especially Lebanon, but making them vulnerable to economic disruptions in those countries;

Because of the government’s actions in the Syrian Civil War, the U.S., Canada, EU, Arab League and Turkey have all imposed sanctions on Syria, including the Syrian Central Bank. The Syrian Central Bank has been actively trying to undermine these various sanctions, with bank officials meeting friendly institutions such as Gazprombank executives in Moscow in March 2012. The Bank has taken an increasingly clandestine role in the domestic private sector as the country’s failing economy has deterred foreign investment;

Involved In:
Central banking

Also Known As:
Banque Centrale De Syrie
Masrif Souriya Al-Markazi

Established:
1953

Country:
Syria

Address:
P.O. Box 2254, Altajrida Al Mughrabia Square, Damascus, Syria
Sabaa Bahrat Square, Damascus, Syria

Phone:
9985

Website:
www.cb.gov.sy/en

E-mail:
info@cb.gov.sy

Reason for the color:
» Added to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on December 22, 2020 pursuant to Executive Order 13582 and the Syrian Sanctions Regulations, 31 C.F.R. Part 542;


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IFMAT Color Guide

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We sort entities who are connected with terrorist activities, in two sections, first by risk and second by geolocation.
GeoLocation divisions are divided into two fields, Black List and Gray List.
BlackList is a list of all companies, organizations and figures who originate from Iran.
GrayList is a list of all companies, organizations and figures out of Iranian borders, and doing business with Iran.
We identify risk of entities by COLOR selection, each color marks the risk level of the entity.(by declining order)
 
TOP ALERT
Designated / Sanctioned / Illicit entities
 
HIGH ALERT
Entities affiliated with Designated / Sanctioned / Illicit entities.
 
MEDIUM ALERT
Entities sanctioned in the past for Terror or Illicit activities / WMD related / Human rights violations.
 
RISK ALERT
Entities in a problematic sector - Sector controlled by the Top Alert entities.
 
GENERAL ALERT
Legitimate entities - we cannot determine whether an entity is completely green, and that is due to the facts that the Iranian economy is not transparent enough for us. Be sure.