Damascus, Jan. 4 (SANA) Governor of the Central Bank of Syria, Abdelkader Husrieh, said the bank is working to adopt international cash fitness standards for banknote circulation, particularly those applied by the European Central Bank, as part of efforts to modernize cash management and strengthen confidence in the national currency.
Husrieh said in a post on his official Facebook page that the standards, known internationally as “Cash Fitness Standards,” represent best global practices in managing the life cycle of banknotes.
He explained that the measures aim to ensure the usability and safety of currency in circulation, protect public health by withdrawing contaminated or severely damaged notes, and enhance transparency and discipline in cash handling. The standards are also intended to improve the efficiency of sorting, counting and circulation processes based on unified technical criteria.
According to Husrieh, the standards set clear specifications for the physical condition of banknotes, including acceptable levels of folds and tears.
They also prohibit the circulation of repaired or distorted notes and require the rejection of notes that have lost essential security or physical features or that pose potential health risks.
Husrieh said aligning these standards with local conditions is consistent with the Central Bank of Syria’s mandate to safeguard the national currency and maintain market stability. He added that adopting international standards would place local practices in line with leading European and global methodologies for cash management.
He stressed that the move represents a step toward a more efficient, transparent and reliable cash market.
On Saturday, the Central Bank said that replacing Syrian currency is part of a comprehensive national program aimed at simplifying daily cash transactions and making denominations and figures clearer and easier to use, without affecting the real value of money or citizens’ purchasing power.
R.H
