Since the beginning of the Syrian crisis the movement of banks have paralyzed, what has led to the emergence of exchange centers for exchanging foreign currency and offices of financial remittances and both of which benefit people, whether to receipt of funds sent to them by their relatives in European countries or to exchange those funds and convert them into the local Syrian currency.

Mohamad Khanika, head of the Commercial Registry Office and member of the Chamber of Commerce and Industry office in Rojava, spoke about the importance of money exchange and remittance centers in the Kurdish region. “The number of exchange centers registered in our records is 54 centers. We are organizing their work and solving their problems according to the rules, adding that: ” These centers contribute to strengthening of the economy in Rojava where they helps to divert traders’ money and revive the economy of the Kurdish region in the absence of the banks within the region.”

Walid Mohamad, head of Exchange Offices Union in al-Jazira region and the owner of (Walid) exchange and remittances company in Qamishlo, spoke about the work of the union saying : ” Our mission as a Union is to solve the problems that may arise between the owners of the exchange centers in coordination with the Finance and Chamber of Commerce and Industry.

Walid also noted that currency transfer from Qamishlo to European countries is virtually non-existent, except in exceptional cases when an expatriate in those countries sells one of their property in Qamishlo then money is transferred to him.

Mahmoud Murad, owner of the exchange office in Qamishlo , talked about the market movement in the city. “The movement in the market starts from 9 am to 2 pm and from 4 pm to 8:30 pm and the activity of Money-changing increases during the harvest season,” said Murad.

Victor Khoury, director of al-Haram center for transferring funds within Syria in local currency , said to Welat FM : ” We transfer the Syrian currency within Syria only and we don’t deal with foreign currency. Transferring movement becomes active at the beginning of each month and summer is the most active season of the year.”

Remittance and exchange centers and offices are many in number in Qamishlo , the thing that has a positive impact on commercial activity within the Kurdish areas, in addition to their role in transferring financial assistance by expatriates to their relatives within the region.

Translated by: Hevin Osman

Welat FM