Exclusive: Reopening the Central Bank of Syria's account  with the Federal Reserve Bank is a strategic step

The Governor of the Central Bank of Syria, Abdul Qader Al-Hasriya, described the reopening of the bank's account with the US Federal Reserve Bank in New York as an important strategic step, with a positive dimension for the Syrian financial sector.

In a statement on Tuesday, Al-Hosriya pointed out that with the completion of other steps within the plan to reintegrate into the international financial sector, and contribute to enhancing the path of recovery and financial stability in the country, this will reflect positively on the Syrian banking sector.

The Governor of the Central Bank considered that this step is gaining importance for several main reasons, the most important of which are:

 Boosting confidence in the Syrian economy.

 Facilitating financial transitions and encouraging foreign investment flows to Syria

 Supporting foreign trade by facilitating international payments and financial settlements

 Promote financial stability by developing relationships with international financial institutions.

He concluded his statement by saying that this step is moving towards the path of openness and the involvement of the Syrian financial sector in the global financial system, in order to serve the interest of the national economy and the Syrian citizen.