The Role Of Reconciliation In Settling Violations Of Foreign Exchange Control Regulations

Abstract

Within the framework of maintaining their economic strength, countries seek to issue control systems on foreign exchange aimed at protecting exchange operations, controlling the exchange rate level, and combating crimes that would prejudice the strength of the national currency.

   Foreign exchange regulations are one of the most important branches of public law, as they include a set of peremptory rules issued by the state in order to subject monetary transactions to individuals and bodies to controls and procedures that it considers to ensure the public interest, and aims to provide a reserve of foreign exchange, by regulating foreign exchange operations, Determining the conditions for providing credit facilities carried out by banks, and other artificial means set by the authorities in order to achieve their desired goals.

Therefore, monetary legislation was keen to refer the perpetrators of crimes and violations prohibited in the foreign exchange regulations to the competent judiciary, but this legislation was also keen to find non-judicial means to end these disputes, and the most important of these means is reconciliation (settlement contract).

   In this paper, we will discuss the role of reconciliation in settling violations of foreign exchange regulations, as it is an administrative procedure that the legislator placed within the reach of perpetrators of crimes of foreign exchange regulations, so that they can request the Central Bank of Syria to settle their disputes amicably, without resorting

to the judiciary, or without continuing the litigation procedures In the event that the dispute is considered at the judiciary.