Damascus, Feb. 28 (SANA) – Syria’s Central Bank said Saturday it has restored its full banking relationship with the Federal Reserve Bank of New York and reopened its account there, marking a step toward reconnecting the country to the global financial system.
In a statement, the Central Bank of Syria said the move followed months of coordination with the U.S. Treasury and the Federal Reserve to meet regulatory requirements and re-establish banking communication channels within legal frameworks.
The bank said reopening the account would strengthen its ability to manage foreign reserves, facilitate international transfers and settlements, and support monetary and financial stability, while enhancing transparency and institutional compliance.
Central Bank Governor Abdulkader Husrieh described the step as a strategic milestone in Syria’s efforts to reintegrate into international financial networks, saying it would help rebuild confidence among global financial institutions and reinforce public trust in monetary policy.
The bank added that parallel reforms have included strengthening compliance systems, enhancing anti-money-laundering and counter-terrorism financing measures, and updating regulations in line with international standards.
It said improving economic indicators and renewed activity in key sectors have contributed to more positive expectations, laying the groundwork for stronger and more sustainable growth beginning in 2026.
