The Central Bank of Syria Restores Its Account with the U.S. Federal Reserve and Enhances Financial Openness

The Governor of the Central Bank of Syria, Abdul Qadir Al-Hosriya, announced that the reopening of the bank's account with the U.S. Federal Reserve in New York represents an important strategic step to enhance financial stability and encourage foreign investments.

Al-Hosriya pointed out that this step facilitates financial transfers and foreign trade, supports Syria's path towards financial openness, and demonstrates the bank's commitment to cooperating with international financial institutions.

He explained that this step contributes to restoring confidence in the Syrian economy and is considered a key milestone in the bank's efforts to reintegrate into the global financial system, thereby strengthening the national economy and supporting citizens.

Last week, the bank announced the completion of procedures to settle its banking relations with the U.S. Federal Reserve, which is expected to have a direct impact on the Syrian financial sector and facilitate future international transactions.