Damascus, Apr. 10 (SANA) Governor of the Central Bank of Syria Abdulkader Husrieh announcedon Friday that the bank is in the final stages of establishing a correspondent banking account with the Central Bank of Türkiye to enhance monetary cooperation and facilitate trade and investment.
Husrieh said the move follows participation, alongside Economy and Industry Minister Nidal al-Shaar, in meetings of the joint economic committee, where discussions were held with Turkish monetary authorities on strengthening bilateral cooperation.
He noted that cooperation has accelerated in recent months, particularly after a visit by a Turkish central bank delegation in July 2025, focusing on technical support, restoring correspondent banking relations and aligning regulatory frameworks, including coordination with the Banking Regulation and Supervision Agency (BDDK). Talks also covered potential currency swap agreements and trade finance facilitation.
He stressed the importance of cooperation with Türkiye’s Financial Crimes Investigation Board (MASAK) to combat money laundering and terrorism financing in line with international standards, and revealed discussions with the Turkish central bank governor on monetary policy coordination, financial stability and payment systems.
Husrieh said future cooperation could include integrated payment systems, cross-border settlements and launching a Syrian-Turkish financial forum. He noted that bilateral trade reached $3.7 billion last year, with plans to increase it to $10 billion.
He added that Turkish banks, including Ziraat Bank and Aktif Bank, have shown interest in entering the Syrian market, while further discussions are planned with the Export Credit Bank of Türkiye (Türk Eximbank) to support bilateral trade.
M.Q.R
