Article
8 July 2025
RARE NOTE FROM BANK THAT HELPED SHAPE MODERN SYRIA AND LEBANON EXPECTED TO MAKE UP TO £36,000
In the aftermath of the Great War and the defeat of the Ottomans, what were later to become Syria and Lebanon came under the rule of the Occupied Enemy Territory Administration, comprised of France, the UK and the Hashemites.
The ensuing French mandate involved a reorganisation of the banking system that had financed development in the region since the mid 19th century, including the Port of Beirut and the railways.
The new Banque de Syrie was headquartered in Paris and gained permission to issue its own notes in March 1920, also taking over a network of branches from the former banking power, the Imperial Ottoman Bank.
Within five years the Banque de Syrie had been renamed the Banque de Syrie et du Grand-Liban, the title it was to hold until almost the outbreak of the Second World War in 1939, its successor eventually being nationalised after the Suez Crisis of 1956.
Thus the Banque de Syrie et du Grand-Liban, Syria was instrumental in the development of the modern map of the Eastern Mediterranean and beyond.
This sale includes a remarkable issued 50 Livres from the bank, dated 1925, and with the serial number W.4 99939. It carries the signatures of Félix Vernes, chairman from 1919-34, and Alexis Julien Laferrière, director.
Repairs to the body of note are accompanied by margins completely reconstructed with added paper, but these restorations do not detract from the overall appearance of this magnificent note, which is the highest graded on the PMG population report.
Very rare as an issued banknote, it has an estimate of £30,000-36,000.
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