Damascus, July 16 (SANA) Syria’s Central Bank held a joint workshop with U.S.-based Citibank on Wednesday to discuss international banking practices, correspondent banking and U.S. dollar clearing, as part of efforts to strengthen the country’s financial sector and payment infrastructure.
The workshop, held in Damascus, was attended by Central Bank Governor Mohammad Safwat Raslan, representatives of Citibank and officials from the Finance Ministry, the bank said in a statement.
Discussions focused on correspondent banking relationships, U.S. dollar (USD) clearing, cross-border payments, and financial settlement infrastructure, with participants reviewing international best practices aimed at enhancing the Central Bank’s operational capabilities.
The Central Bank said the workshop was intended to promote the exchange of expertise and improve institutional capacity in banking operations, payment systems and clearing services.
U.S. dollar clearing is the process through which dollar-denominated transactions are settled between financial institutions via correspondent banking networks, enabling secure and efficient international payments.
Citibank, part of U.S.-based Citigroup, is one of the world’s largest financial institutions, providing banking and financial services across international markets.
N.J/ABD
