The Central Governor of Syria: Washington's Decision to Lift Sanctions on Syria Supports Monetary Reform and Enhances Financial Stability

The Governor of the Central Bank of Syria, Abdul Qader Al-Hosriya, described the U.S. Treasury Department's decision to lift sanctions on Syria and the U.S. Commerce Department's decision to ease export restrictions as "directly contributing to supporting the efforts of Syrian monetary and banking reform, enhancing monetary stability, and increasing the level of transparency in financial transactions."

This was stated in a post on his official Facebook page today, where Al-Hosriya confirmed that "enhancing access to American technology is a pivotal step in supporting the financial and banking sector in Syria, especially in the field of developing modern payment systems, which represent a fundamental pillar for expanding the scope of financial services and facilitating commercial and financial transactions."

Al-Hosriya revealed that "the Central Bank of Syria and the Ministry of Finance, in coordination with the Ministry of Foreign Affairs, continue their constructive communication with the U.S. Treasury Department," noting that they "perceive a clear commitment to support the ongoing reforms in the financial and banking sectors and in public financial policy."

He also expressed his hope that "these steps would form a new foundation to enhance the integration of the Syrian financial sector into the global financial system, open safe and effective channels for exchange and financing, and develop electronic payment and settlement systems according to international standards, in a way that serves the objectives of monetary policy and maintains the stability and efficiency of the financial sector."

It is noteworthy that U.S. President Donald Trump issued an executive order in June 2025 to completely lift sanctions on Syria, opening the door to a new phase of economic and political relations between Damascus and the international community.