Central Bank Decisions
Decision 7 of 2022
A further amendment to Decision 5 of 2020 and its amendment by Decision 28 — issued by the Council of Ministers on 13 February 2022 and circulated to banks by the Central Bank of Syria on 15 February 2022.
Decision 7 of 2022
Subject
What this decision governs
The decision resets the minimum value of the bank notice issued for property and vehicle sales on two different bases:
- Property — a fixed proportion of the official prevailing-value tables for the property sold, as adopted by the Ministry of Finance under Law 15 of 2021.
- Vehicles — by year of manufacture.
The wider framework is unchanged: registers and notaries may not authenticate a sale contract, or an irrevocable power of attorney amounting to a sale, before a notice evidencing payment into the owner's bank account is attached.
Obligations on banks
What the Central Bank emphasised
- SYP 500,000 stays in the seller's account for at least three months after the sale proceeds are credited — as previously required under Decision 28.
- Entry into force — thirty days after publication in the Official Gazette; Decision 28 of 2021 continues to apply during that period and until the implementing instructions for the property threshold are issued.
- Publication — a copy is displayed prominently in the bank and published on its website.
Original document
The text above is a transcription of the official document, published so it can be read, searched and translated on any device. The signed PDF below remains the authoritative copy.