BDL Says Some Licensed Money Changers Not Abiding by Sayrafa Rules

  • Economics
BDL Says Some Licensed Money Changers Not Abiding by Sayrafa Rules

The Central Bank Thursday said that some licensed exchange dealers are not registering all the daily transactions on “Sayrafa” platform, which may have caused the dollar to rise against the Lebanese pound.

BDL said in a statement that after reviewing the information registered by the money changers on the “Sayrafa” platform, it was found that the numbers do not correspond to reality, as stipulated by Banque du Liban Circular No. 5 for exchange institutions that oblige money changers to register all buying and selling transactions on the platform.

A source told The Daily Star that some exchange dealers apparently only register daily purchases and sales of smaller amounts of dollar but fail to register the larger transactions.

Read the Full Article at the Daily Star: https://bit.ly/3gK3fce

Source: The Daily Star