Syrian money exchange offices can be found in most Turkish cities. These offices make more financial profits than Turkish exchange offices because they exchange more money and take higher commissions to transfer money inside or outside but their work is not without anxieties.
A large number of Syrian shops in different professions in most of Turkey’s cities took up currency exchange and converting money between different currencies such as Euro, US Dollars, Syrian Pounds, Saudi Riyal, Dinar and Pounds Sterling.
In addition to currency exchange, they also transfer money between Turkish cities and to and from Syria, to liberated areas or areas under regime control.
Eqtsad spoke to Haj Abu Mohammad, the owner of a bread shop in Gaziantep, who informed the team that he works with friends in other Turkish states in currency exchange although he does not have a license. He explained that his work is limited to dealing with Syrians who want to avoid the Turkish state interfering into their transactions and taxing it.
He said that some of them work individually by transferring money between individuals who have accounts in different Turkish cities without settling in one particular place. They hand over the transferred money to the recipient directly in a specific place they agree upon, often in a coffee shop or in the transferor's house according to the distance between the two parties.
-Legitimate Companies-
At the same time, there are many Syrian companies licensed to exchange currency and transfer money to different places. These offices have stable headquarters in most large Turkish cities where they work. These offices deal with individuals and with Syrian commercial enterprises who pay the offices part of their profits rather than the office taking a fee.
These companies enjoy state protection, they are insured, and they offer those dealing with them officially recognized receipts. These offices deliver the money to customers through regular channels, and it takes a few minutes to transfer the funds using their fast internet account. The receipt can receive the money immediately upon arrival at the company's headquarters.
These companies often record the identification information of the parties to the transaction and documents them in the company records to ensure everyone’s rights.
-They Charge More-
Syrian companies and shops that work in the field of currency exchange and transfer are paid more than Turkish companies. They justify this by explaining that the rents are high in the offices and shops they rent, and they can only get their license by registering the company in the name of a Turkish citizen to whom they pay monthly insurance.
Speaking to Eqtsad, Mohammad N., who owns an exchange office in Gaziantep said, “There is no specific tariff or system that unites the Syrian companies and each company deals with what it decides according to supply and demand. The amounts we charge as a fee for transfers are between 3-10% of the amount transferred inside the Turkish territory. The percentage decreases as the amount transferred increases, and this varies between customers and the number of times we deal with them.”
“We charge one Turkish Lira more than the Turkish companies, either when selling or buying for every 100 US Dollars as our circumstances are different and our expenses are greater than the Turks,” he added.
Mohammad N. pointed out that regular Syrian shops dispersed in remote streets or residential areas may charge up to ten Turkish Lira, but their work is limited to exchanging small amounts for those who do not want to make the journey to large companies and exchange areas.
Work in this field is not without obstacles. Syrian refugees may be subject to fraud by some corrupt people, although these incidents have been limited until now.
Masked armed men attacked one licensed exchange company in Gaziantep resulting in some material damages. The company reported the attack to the police and the perpetrators are still at large.
