Syria expects first transfer with U.S. bank 'within weeks', governor says

19/6/2025 16:16

Syria expects to have its first transaction with a U.S. bank "in a matter of weeks", Syrian central bank governor Abdelkader Husriyeh said on Thursday, a day after a high-level meeting between Syrian and U.S. commercial banks.



The resumption of transfers between Syrian and U.S. banks would be a key milestone in the push by Syria’s new rulers to reintegrate the country into the global financial system after 14 years of civil war.



Husriyeh on Wednesday held a virtual conference bringing together Syrian banks, several U.S. banks and U.S. officials, including Washington's Syria Envoy Thomas Barrack, with the aim of speeding up the reconnection of Syria's banking system to the global financial system.



This follows U.S. President Donald Trump's announcement in May that all sanctions on Syria would be lifted. That has been followed up with executive orders formally lifting some of the measures.



Syria's reintegration into the global financial system would be a major step towards enabling the kind of large financial transactions needed to kickstart its reconstruction and economic activity, and help rein in a highly informal, cash-based economy.