Governor of the Bank of Syria: We have reached an account with the Bank of Canada

The Governor of the Central Bank of Syria, Abdul Qadir Al-Hasriya, announced that an agreement has been reached with the Central Bank of Canada to start the necessary procedures to open an account in favor of the Central Bank of Syria.

He said on his Facebook page: "This step represents an important financial development that reflects a new phase of the opening of the Syrian financial system to international monetary institutions."

He added: "This step comes as a practical culmination of the meetings we held with the Bank of Canada at the end of 2025  and Canada's decision to lift the sanctions that were imposed on Syria, which made it possible to rebuild the official channels of banking between the two sides after years of restrictions."

 The presence of accounts of the Central Bank of Syria with major central banks facilitates the implementation of international transfers, enhances the ability to manage reserves in foreign currencies, and provides greater reliability in financial transactions with foreign countries, he said.

 He expressed his hope that this development will open the door to facilitating the movement of trade, imports and remittances, in addition to improving payment channels and financial settlements, which may reflect positively on economic activity and re-linking the Syrian banking sector to the global financial system.

"On the other hand, the diversification of accounts with more than one central bank, such as the US Federal Reserve and the Bank of Canada, reflects our trend towards expanding our network of international financial relationships and reducing reliance on a single channel for managing payments and reserves," the governor said.

He pointed out that this step is not just a technical measure, but an indication of broader shifts in international financial relations, and we hope that it will constitute progress in a gradual path to reintegrate the Syrian economy into the global financial system and enhance confidence in the Syrian banking sector.