Syrian Regime Launches Campaign Against Businessmen to Back the Lira

A currency exchange shop in Syria's Azaz. Reuters file photo
A currency exchange shop in Syria's Azaz. Reuters file photo
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Syrian Regime Launches Campaign Against Businessmen to Back the Lira

A currency exchange shop in Syria's Azaz. Reuters file photo
A currency exchange shop in Syria's Azaz. Reuters file photo

The Syrian regime is forcing entrepreneurs and businessmen to pay millions of US dollars to the Central Bank to save the country from bankruptcy.

A meeting held at the Sheraton Hotel in Damascus on Saturday was attended by Syria’s Central Bank Governor Hazem Karfoul, and businessmen Samer Foz, Mohammad Hamsho, Waseem al-Qattan, brothers Hossam and Bara’ al-Katerji, in addition to Ghassan al-Qala'a, chairman of Damascus Chamber of Commerce. It aimed to discuss an initiative announced by the businessmen to increase the deteriorating value of the Syrian lira to the US dollar.

The gathering was held behind closed doors and under strict confidentiality. Later, reports said that Foz had made a 10-million-dollar pledge to support the Syrian lira.

Economic experts told Asharq Al-Awsat that the Central Bank governor is exerting pressure on the businessmen to release funds.

Other than Foz, none of them announced following Saturday’s meeting, his intention to secure funds.

“The businessmen believe the regime is seeking to take over their assets, despite having amassed their great wealth illegally and under the gaze of the regime,” the experts said.

Persons familiar with the meeting told Asharq Al-Awsat that following two hours of closed-door talks, none of the conferees made a statement to the press.

On its Facebook page, the Damascus Chamber of Commerce said that participants agreed to deposit money in US dollar, each according to his ability, in an attempt to increase the value of the Syrian pound against the dollar.

Early this month, Damascus residents were shocked after the Syrian pound weakened to its lowest level as the pound closed at 691 against the dollar in the streets while it stood at 438 pounds per dollar at the daily benchmark set by the Central Bank.

The regime’s campaign against Syrian businessmen started when reports said that head of the Syrian regime, Bashar Assad, ordered measures against companies owned by his cousin, Rami Makhlouf, in Syria.

The measures involved action against Makhlouf’s shares in the state-owned Syrian Telecom Company (Syriatel), the country’s biggest mobile phone company.



AFP Appeals for Evacuation of Freelance Staff from Gaza

Smoke rises during Israeli strikes amid the Israeli military operation in Deir Al-Balah, in the central Gaza Strip, July 21, 2025. REUTERS/Hatem Khaled/File Photo
Smoke rises during Israeli strikes amid the Israeli military operation in Deir Al-Balah, in the central Gaza Strip, July 21, 2025. REUTERS/Hatem Khaled/File Photo
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AFP Appeals for Evacuation of Freelance Staff from Gaza

Smoke rises during Israeli strikes amid the Israeli military operation in Deir Al-Balah, in the central Gaza Strip, July 21, 2025. REUTERS/Hatem Khaled/File Photo
Smoke rises during Israeli strikes amid the Israeli military operation in Deir Al-Balah, in the central Gaza Strip, July 21, 2025. REUTERS/Hatem Khaled/File Photo

Agence France-Presse called on Israel on Tuesday to allow the immediate evacuation of its freelance contributors and their families from the Gaza Strip, citing worsening living conditions and escalating risks to their safety.

In a statement, the French news agency said its freelancers faced an "appalling situation" in Gaza. A 21-month war with Israel has devastated the territory, since Hamas' attack on Israel in October 2023.

"For months, we have been witnessing, powerless, the dramatic deterioration of their living conditions," AFP said, adding that the situation had become untenable despite the "exemplary courage, professional commitment and resilience" of its local team.

The management statement came after AFP's journalists' association issued its own statement saying colleagues in Gaza risked dying of hunger.

AFP said it had succeeded in evacuating eight staff members and their families from Gaza between January and April 2024, after months of effort. It is now seeking to secure safe passage for its freelance Palestinian reporters, despite "the extreme difficulty of leaving a territory under strict blockade".

According to Reuters, Israel has barred international journalists from entering Gaza since October 7, 2023. AFP said the work of its Palestinian freelancers remained crucial to informing the world, but said they now had to leave because of the risk to their lives.

Reuters also works with freelance journalists in Gaza.

"Reuters is deeply concerned about the health and safety of its freelancers in Gaza, with whom we are in daily contact. The extreme difficulty sourcing food is leading to their and all Gaza residents experiencing greater levels of hunger and illness," a Reuters spokesperson said. "We are providing our contributors with additional financial support to help them and, should they wish to leave the territory, we will provide any assistance possible to help them get out."