Damascus, SANA- The Governor of the Central Bank of Syria (CBS), Dr. Abdul Qader Husariya said that Syria will be fully reconnected to the SWIFT international payment system “in a matter of weeks.
Dr. Husariya explained in an interview with the British newspaper “Financial Times” (FT) that SWIFT’s return will help encourage foreign trade, cut import costs and facilitate exports adding that “we detailed a road map for restructuring the country’s financial system and monetary policy in order to rebuild the decimated economy”
The Governor of the Central Bank of Syria explained that the Central Bank aims to reform the banking sector by reviewing its regulatory framework and rehabilitating its role as a financial intermediary between the private and business sectors.
He added, “What we have seen is the issuance of licenses and the selective lifting of sanction, Implementation must be comprehensive”
Dr. Husariya expressed his hope for attracting the foreign investment needed for reconstruction, removing obstacles to foreign trade, printing currency, and reforming the banking sector.
“We aim to enhance the brand of the country as a financial hub, given the expected foreign direct investment in rebuilding and infrastructure – this is crucial,” Husariya told the FT.
Noura /Khadeja
