Damascus, March 3 (SANA) Syria’s central bank governor said the reopening of the bank’s account at the U.S. Federal Reserve Bank of New York marks a key step toward restoring financial stability and reconnecting the country to the global financial system.
Governor Abdulkader Husarieh said the move is expected to positively impact Syria’s financial sector once additional measures under the bank’s reintegration plan are completed.
In remarks published Monday on the central bank’s Telegram channel, Husarieh said the decision would help strengthen financial recovery efforts, bolster confidence in the Syrian economy, and signal the bank’s commitment to cooperation with international financial institutions.
He said reopening the account would facilitate international money transfers, support foreign trade by easing cross-border payments and settlements, and encourage foreign investment in Syria.
The central bank announced on Saturday that it had completed procedures to settle its banking relations with the Federal Reserve Bank of New York and reopen its account.
Syria’s financial system has faced years of isolation from Western banking networks amid sanctions that limited its access to international transactions.
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