Iyad Bilal, Treasury Director of the Central Bank of Syria, denied his intention to issue a new ten thousand lira banknote at this time.
Sadiq Al-Madina Radio reported that Bilal said that printing banknotes larger than five thousand pounds required a law text to allow it.
Emphasizing that the Central Bank has not taken any steps to issue a new currency, he explained that the bank must first obtain the legislative text.
In addition to working on the inclusion of contracts for printing proposals, then working on the banknote design to begin the phase of securing materials and supplies, followed by the printing and procurement phase.
By constantly evaluating the situation and the data, the Central Bank determines the expected scenarios for the future amounts of demand for banknotes in a given period and the costs of printing and transferring the necessary funds, and based on this, the need is determined.
And he believed that the link between offering large cash denominations and increasing inflation in the market was wrong. If the need to issue ten thousand pound denominations in the future arises, this will not lead to an increase in prices, but rather facilitating the cash payment process and the movement of money.
