The US decision to remove Syria from its list of state sponsors of terrorism could create a path for the country’s banking sector to reconnect with international financial institutions, according to Safwat Raslan, governor of the Central Bank of Syria.
Speaking to Qatar News Agency, Raslan said the move could support the gradual restoration of correspondent banking relationships, helping facilitate trade, remittances, and the financing of imports and exports. It may also improve the flow of money sent by Syrians abroad, provided banks meet the required legal, technical and compliance conditions.
Raslan cautioned that the decision does not automatically lift all restrictions or guarantee an immediate return to international banking networks. Syrian banks still face regulatory, technical, commercial and compliance requirements imposed by global financial institutions and correspondent banks.
The central bank’s priorities include strengthening supervision, compliance and risk management, while improving anti-money laundering and counter-terrorist financing controls. It also plans to upgrade payment, transfer and other technology systems.
Raslan said the bank is working with regional and international institutions to rebuild financial cooperation. He added that converting the political and legal change into stronger capital flows, trade and investment will require sustained institutional coordination and a more transparent, reliable banking system.
Source: Janoubia
