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The Banque de Syrie et du Liban operated under French Mandate authority, and by 1939 the institution was managing currency across two territories that France was already preparing — however reluctantly — to eventually relinquish. The Banque de France handled production, as it did for most French colonial and mandate currencies of the period, with Serveau's design engraved by Deloche, a pairing responsible for several French overseas issues in the 1930s.

Pick 15 is among the scarcer low-denomination mandate-period notes. The outbreak of war in September 1939 severely disrupted normal distribution channels between Paris and the Levant.