Currency exchange chaos in Qamishlo: Shortage of new banknotes deepens citizens' suffering

Since the exchange mechanism for old Syrian currency through the "Sham Cash" system was introduced in Qamishlo two days ago, following the expiration of the deadline set by the Central Bank of Syria to replace old banknotes with the new issue, the city has witnessed heavy congestion and growing public dissatisfaction. The situation has been attributed to the designation of only one exchange center and the continued shortage of new banknotes, forcing many citizens to wait for hours to complete their transactions.

According to residents, the current exchange mechanism does not reflect the country's economic and living realities and has opened the door to exploitation by some money changers and traders. They called on the relevant authorities to distribute the new currency directly through banks and their branches, allowing citizens easier access to their funds while curbing exploitative practices.

Meanwhile, one administrator explained that delays in completing exchanges stem from the large sums of money being deposited. He noted that employees at the Qamishlo Post Office rely on five counting machines solely to process the cash, while frequent power outages further slow the counting process and delay transactions.

Several citizens told ANHA that the crisis has worsened because employees at the post office are giving priority to currency exchange shop owners when processing deposits. They argued that this has increased congestion, delayed ordinary citizens, and enabled money changers to exploit the situation.

Post offices across Hasakah province began accepting deposits of old Syrian banknotes into the "Sham Cash" application on August 3 under a mechanism approved by the Central Bank of Syria. The system allows each citizen to deposit up to 25 million Syrian pounds, despite the continued absence of the new banknotes in Hasakah province.

The move came after the expiration of the Central Bank's deadline for exchanging the old currency, before the bank announced a one-week extension from August 2 through August 6, 2026.

Residents stressed that assigning only one exchange center in a city the size of Qamishlo is insufficient to meet public demand. They called for additional centers to be opened and for adequate supplies of the new currency to be made available to ease overcrowding and speed up transactions.

“Sham Cash” does not serve citizens

Speaking to ANHA, lawyer Salah al-Din Youssef said the exchange mechanism through the "Sham Cash" system does not serve citizens' interests, arguing that it undermines confidence in the Syrian pound and negatively affects its market value while complicating procedures that are already ill-suited to current living conditions.

He said a much simpler solution would have been to distribute the new banknotes directly through banks, allowing citizens to receive their money without first transferring it to electronic accounts. He also questioned the guarantees protecting citizens' funds after they are deposited into the "Sham Cash" application, how long it would take for deposits to appear in their accounts, and how they would be able to withdraw their money given the shortage of new banknotes in the region.

Youssef added that the measures benefit only certain groups while failing to serve the majority of citizens, particularly as the new currency has yet to become available in local markets. He urged the authorities to clarify how the system works and answer the public's questions.

He further argued that the decisions and procedures cannot realistically be implemented under Syria's current conditions, saying they might be suitable in countries with advanced banking infrastructure but criticizing the legal and economic basis of the decision.

Workers and low-income earners hit hardest

Citizen Fahima Ali, who was waiting at the post office to deposit her money, said residents are facing serious difficulties after many shops and markets stopped accepting the old banknotes while the new currency remains unavailable.

She added that the exchange deadline is too short and that daily wage earners and low-income workers have been the hardest hit by the measures, particularly as exchange offices continue to exploit the crisis.

One center is not enough

For his part, citizen Muhannad Fares said allocating only one exchange center in a city the size of Qamishlo is far from sufficient, noting that he had been waiting since early morning to complete his transaction.

He said the currency exchange process would only succeed if additional centers were opened, sufficient quantities of the new banknotes were supplied, and procedures were simplified to reduce congestion and ensure faster processing.

Fares added that citizens need access to their basic necessities without the current complications, calling on the authorities to take urgent measures to address the crisis, reduce overcrowding, and end the exploitation accompanying the exchange process. He stressed that residents' primary demand is to preserve their dignity and ensure easy access to their own money.

Residents are calling on the relevant authorities to open additional currency exchange centers in Qamishlo, extend the exchange period, ensure adequate supplies of the new banknotes, and review the "Sham Cash" mechanism to reduce the burden on citizens and guarantee timely, uncomplicated access to their funds. 

A-H

ANHA