Directorates

The Tasks of the Directorate of Foreign Relations:

• Supervising all commercial and non-commercial foreign exchange operations related to foreign exchange systems for the private and joint sectors, regardless of the body implementing the transactions. This includes banks, exchange companies, etc.
• Monitoring public sector foreign exchange operations subject to the public sector foreign exchange management mechanism. This is done by tracking the implementation of the foreign exchange plan for the public sector and monitoring the implementation of foreign exchange operations related to the dispatch decisions of some public bodies which are implemented outside the foreign exchange plan.
• Preparing draft decisions and foreign exchange regulations for all foreign exchange operations that are duly subject to oversight, and monitoring their proper implementation and proposals for amending them where necessary to ensure effective oversight.
• Preparing and issuing lists of violators of foreign exchange regulations for commercial operations and updating them periodically.
• Processing applications for granting patents for investment projects in accordance with applicable regulations and instructions.
• Properly processing requests to purchase exchange for non-commercial purposes.
• Tracking the violations committed in the sale of currencies for commercial and non-commercial purposes and collecting the due settlement fees.
• Tracking the foreign trade file and preparing various reports about it.
• Preparing various special reports and statistics related to regulated foreign exchange operations.
• Monitoring the internal gold transfer file and preparing the necessary reports.

The Departments of the Directorate of Foreign Relations:

• Department of Commercial Operations.

Department of Non-Commercial Operations and Monitoring Foreign Exchange Operations .

The Tasks of the Directorate of Public Debt and Securities:

• Managing the issues of government securities and the Central Bank, including the settlement and central depository operations.
• Organizing lending and credit affairs between the bank, operating banks, and the Ministry of Finance.

The Departments of the Directorate of Public Debt and Securities:

• Public Debt and Credit Department.
• Securities Department.

Supervisory Director of Information Technology

The Tasks of the Directorate:

• Conducting all studies related to interpreting the economic, monetary and financial facts inside and outside Syria, and investigating the status of banking activity in Syria.
• Preparing studies, articles, and news intended for publication, and editing and circulating the news and summary thereof.
• Purchasing references, publications, and periodicals to the library.
• Preparing the balance of disbursements, all necessary statistics periodically, and foreign currency tables and statements.
• Organizing monetary and economic statistical tables primarily for use in preparing the Central Bank of Syria’s statistical bulletin.
• Managing foreign exchange in the public sector.
• Managing and enhancing the content of the Central Bank of Syria’s website.
• Strategically planning the bank in alignment with the overarching goals of the national economy and economic and social development plans.

The Departments of the Directorate of Economic Research, General Statistics and Planning:

• Economic Research Department.
• General Statistics Department.
• Balance of Disbursements Department.
• Department of Foreign Exchange Management in the Public Sector.
• Planning and Monitoring Department.
• The Library .

The Tasks of the Directorate

• Receiving and collecting electronic data received from the General Directorate and branches.
• Maintaining the accounting approach and studying requests to add accounting received from departments in the General Directorate and branches of the Central Bank of Syria.
• The Director of the Accounting Directorate is responsible for the accounting approach, issuing the accounting guide for all bank operations and making appropriate amendments in coordination with the relevant directorates.
• The Director of the Accounting Directorate proposes, updates and presents accounting policies to the Management Committee, and monitor their application in the directorates and branches of the Central Bank of Syria.
• Auditing the restrictions relating to all ongoing operations in the General Directorate.

The Departments of the Directorate

• Accounting Department.
• Department of Settlements and Compliance.

Reporting Department.

The Tasks of the Directorate of Banking Operations:

• Managing operations related to foreign exchange and gold at the bank.
• Implementing the bank’s monetary policy in light of the objectives set by the monetary authorities.
• Measuring, monitoring, and preparing reports on risks arising from the bank’s activities in the field of management of reserve and operations related to money market.
• Managing operations related to loans, guarantees and banking agreements.
• Opening and executing documentary credits for public sector entities and executing policies for collection.
• Carrying out bank remittances in accordance with the bank’s Bylaw.

The Departments of the Directorate of Banking Operations:

• Exchange Rate and Studies Department.
• Department of External Operations and Correspondents.
• Remittances and Checks Department.
• Documentary Credits Department.

The Tasks of the Directorate of Financial Affairs:

• Preparing estimated budgets in coordination with the relevant directorates.
• Ensuring payment of obligations on time
• Working to secure the delivery or receipt of materials and funds in accordance with the applicable regulations.
• Organizing audit work related to financial affairs.
• Striving to develop financial work methods.
• Supervising financial aspects of warehouse operations.
• Processing payroll and compensation payments.
• Concluding Contracts and monitoring their implementation.

The Departments of the Directorate of Financial Affairs:

• Budget and Disbursement Department.
• Contracts Department.
• Expenses Department.
• Department of Wages and Compensation.
• Financial Documents Preservation Department.

The Tasks of the Directorate of Human Resources

• Developing the strategic plan for the directorate based on the bank’s comprehensive strategic plan.
• Preparing human resources plans that suit the needs of the bank’s directorates and branches, and the competencies required to develop their work.
• Functional analysis of the human resources in the bank by analyzing the nature of the jobs and determining the specifications of the person required to perform them.
• Preparing, printing, and publishing the bulletin of the bank’s authorized signatories, applying urgent amendments to it on an ongoing basis, and communicating it to whomever necessary.
• Implementing administrative matters related to employees and organizing their self-identification files in accordance with the applicable laws and regulations.
• Designing the bank’s organizational structure and systems, including determining the degrees of centralization of decision-making authority.
• Implementing the obligations of the bank as an employer with regard to human resources.
• Monitoring the bank employees' health and social status in accordance with the applicable laws and regulations.
• Developing a training and qualification plan and programs with the aim of qualifying the bank’s employees from scientific and technical standpoints, providing trained and qualified cadres, and equipping them with the necessary experience and skills.
• Developing individual and group skills to keep abreast with modern technical developments.
• Participating in preparing the estimated budgets for the directorate.
• Preparing and disseminating data regarding incentives (both financial and non-financial) to facilitate informed decision-making
• Supervising the performance evaluation procedures of the bank.
• Providing human resources appropriate to the needs and nature of the bank’s work, in quantity and quality, in accordance with the applicable regulations.
• Providing the necessary proposals to develop the work.

The Departments of the Directorate of Human Resources:

• Human Resources Planning Department.
• Training and Development Department.
• Department of Health and Social Affairs.
• Labor Relations Department.

The Tasks of the Directorate of Legal Affairs:

• Providing legal consultations and addressing all legal issues encountered by the bank's departments and branches, devising appropriate solutions and documenting them through official letters supported by legal opinions.
• Preparing draft laws, rules, regulations, and instructions pertaining to the bank’s operations, in collaboration with relevant directorates, or providing opinions on them and suggesting amendments to certain banking matters.
• Studying issues requiring arbitration, providing a legal opinion on them, and proposing the appointment of an arbitrator.
• Representing the bank in legal negotiations in collaboration with relevant departments as assigned by the Management Committee.
• Reviewing contracts in which the bank is involved, providing written approval of their terms to ensure and safeguard the bank's rights and interests in accordance with applicable laws and regulations. Additionally, preparing necessary contracts as delegated by the Management Committee.
• Auditing the terms and conditions books from both legal and financial perspectives.
• Coordinating with legal consultants and contracted lawyers of the bank, and providing periodic reports on their activities including the management of lawsuits and matters pertinent to the bank's interests. Additionally, providing opinions on contract renewals, amendments, or cancellations as necessary.
• Classifying legislation, jurisprudence, and fatwas issued by competent authorities relevant to the bank's operations. This includes indexing them and circulating important ones to the directorates, branches, and relevant authorities.
• Providing legal opinions on requests to open current accounts, ensuring they meet legal requirements.
• Initiating and monitoring lawsuits filed by or against the bank, preparing necessary defenses, and managing proceedings before the appropriate courts to safeguard the bank's rights, in coordination with relevant bank directorates."
• Monitoring the implementation procedures of final judicial rulings issued in cases filed by the bank through its contracted lawyers.
• Analyzing all violations of the Banking Law, pursuing them judicially on behalf of the bank, examining all cases related to foreign exchange, and presenting the findings to the Exchange Office Management Committee for decision-making.
• Furnishing information to the Banking Supervision Department upon its request .

The Departments of the Directorate:

• Legal Studies Department.
• Legal Issues Department.

The Tasks of the Directorate

• Providing mail services (internal and external), and maintaining all of the bank’s equipment either through the technical personnel within the bank or by contracting with external workshops.
• Monitoring maintenance contracts between the bank and external bodies.
• Managing the bank's warehouses and ensuring the availability of necessary printouts, equipment, and machines for all directorates.
• Supervising the bank’s buildings in Damascus and its branches across the governorates.

The Departments of the Directorate:

• Buildings and Warehouses Department.
• Maintenance and Machinery Department.
• Services Department.

The Tasks of the Treasury Directorate

• Providing recommendations and executing decisions concerning designing and printing Syrian banknotes, and minting circulating and commemorative coins, as well as withdrawing old issues from circulation.
• Conducting all operations related to the circulation of banknotes and coins, including sorting, counting, assembling, perforating, and destroying.
• Managing the bank’s cash reserves and coordinating programs for printing banknotes and minting circulating and commemorative coins.

The Departments of the Treasury Directorate:

• Central Fund Department.
• Issuance Department.
• Accounts Management Department.
• Monetary and Museum Management Department.

The Tasks of the Payment Systems Directorate

• Developing and updating draft operational and regulatory instructions for electronic payment and financial technologies at the Central Bank of Syria to be duly approved.
• Licensing electronic payment companies, in accordance with the decisions and applicable regulations.
• Participating in studying financial institutions’ use of electronic payment systems and financial technologies.
• Participating in developing regulatory frameworks for electronic payment systems, electronic payment methods, financial technologies, and electronic banking services at financial institutions with the Banking Supervision Department to be duly approved.
• Managing and operating the payment, clearing, settlement and electronic financial transfer systems at the Central Bank of Syria.
• Proposing decisions and instructions for the security and protection of information related to electronic payment systems and their financial tools and technologies in coordination with the Information Technology Directorate and the Banking Supervision Department.
• Developing the necessary plans to train and qualify human resources to advance electronic payment and its financial technologies.
• Conducting studies, statistics and periodic reports in the field of electronic payment and financial technologies.
• Representing the Central Bank of Syria in electronic payment, clearing and settlement issues.
• Supervising the payment, clearing and settlement systems at the Central Bank of Syria.
• Supervising electronic payment systems and financial technologies in the financial institutions in coordination with the Banking Supervision Department.
• Monitoring electronic payment companies’ compliance with the laws, decisions, and instructions regulating electronic payment, financial technologies, and their services, and the instructions of Combating Money Laundering and Terrorism Financing Commission.

The Departments of the Payment Systems Directorate:

• Policy and Research Department.
• Department of Real-Time Gross Settlements (RTGS).
• Retail Payments Clearing Department.
• Department of Monitoring the Performance and Efficiency of Payment Systems.
• National Switch and Electronic Transfers Department.

The Tasks of the Information Technology Directorate

• Managing, developing and operating information systems in terms of programs and operating environment.
• Coordinating with the Planning Department of the Directorate of Economic Research, General Statistics and Planning in developing the strategic plan for information technology projects in the bank.
• Supervising the implementation of information technology projects in the bank.
• Preparing and submitting periodic reports on the work of the Information Technology Directorate and its employees, and determining the necessary financial allocations, proposals, and implementation priorities.
• Ensuring that system investors benefit from the constant availability of computer information.
• Using modern development tools in managing information technology projects.
• Developing the necessary plans to train the Directorate’s employees in all areas of information and communications technology.
• Identifying new developments in information systems and technology.
• Providing the ability to make fundamental changes in the bank’s method of work in line with modern information developments.
• Enhancing the role of information technology in modernization plans aimed at elevating the quality of banking operations within the institution.
• Developing information technology solutions to ensure compatibility with both national and international financial and banking institutions.
• Establishing information security procedures (administrative, physical and programming aspects) in the bank in accordance with standard international information security procedures and the nature of work in the bank.
• Managing the process of copying and saving backup copies of software assets (basic and applied) and data according to instructions approved by the bank.
• Supervising the work of the information technology departments in the bank’s branches in the governorates from a technical standpoint.
• Proposing the necessary amendments to the structure and tasks of the Information Technology Directorate and corresponding departments in the branches in accordance with the developments in banking work mechanisms.

The Departments of the Directorate of Information Technology:

• Information Research and Planning Department.
• Development Department
• Testing, Quality and Information Security Department.
• Operation and Investment Department.

The Tasks of the Directorate

• Participating in preparing a set of laws, regulations and instructions for the bank and monitoring their amendments.
• Classifying the legislations, jurisprudence, and fatwas issued by the competent authorities related to the bank’s work and circulating the important ones to the relevant directorates, branches, and authorities.

The Departments of the Directorate:

• The Secretary Department of the Council and Administration.

Reporting and Monitoring Department.

The Tasks of the Risk Management Directorate:

• Proposing the general strategy, policies and applied instructions for risk management in line with the objectives specified in the bank’s strategy and ensuring the effectiveness of oversight and risk control systems at the overall level and the level of directorates and departments at the Central Bank to be approved.
• Ensuring that the general strategy, policies and applied instructions for risk management are circulated to all concerned executive directorates and departments, monitor their implementation, and submit proposals regarding their development.
• Preparing the necessary studies in the field of monitoring the management process of the risks which might face the Central Bank of Syria.
• Submitting periodic reports explaining the nature and size of the various risks which might face the bank, the measures taken to mitigate the risks, and the results of monitoring the process of managing these risks, and providing the necessary recommendations.
• Developing the regulatory system approved by all concerned directorates and departments.
• Proposing training and skills development processes aimed at creating and developing awareness of risk management.

The Departments of the Risk Management Directorate:

• Operational Risks Department.
• Financial Risks Department.
• Strategic Risks Department.

Emergency Plans and Business Continuity Department

The Tasks of the Banking Supervision Department:

• Studying applications for licensing and registering financial institutions subject to the supervision of the Monetary and Credit Council in accordance with the applicable laws and regulations.
• Carrying out its assigned tasks in accordance with section Four of Law No. 23 of 2002 and its amendments.
• Supervising and controlling banks/banking and non-banking financial institutions which are subject to the supervision of the Monetary and Credit Council and in accordance with its directives, and verifying violations of these banks/institutions of the provisions of the laws, decrees, decisions and controls regulating banking and financial work.
• Monitoring matters related to centralization of risks and collecting information on credit facilities granted to debtors of banks and other financial institutions that are subject to the supervision of the Council on a regular basis.
• Conducting studies and statistics related to the status of banks and banking and non-banking financial institutions that are subject to the supervision of the Monetary and Credit Council.
• Conducting any special investigation or audit upon the Council’s request and in accordance with its directives.

The Sections of the Banking Supervision Department

• Licensing and Registration Department.
• Office Control Department.
• Field Control Department.
• Risk Centralization Department.
• Monitoring Department.
• Department of Studies and Legislations.
• Non-Banking Financial Institutions Control Department.

The Tasks of the Internal Audit Directorate

• Examining and evaluating the adequacy and effectiveness of the bank’s internal control systems.
• Reviewing the credibility and reliability of financial information and the methods used to define, measure, classify and prepare it.
• Reviewing the applicable work systems and procedures, determining their adequacy and degree of complying with them, and providing appropriate recommendations to increase their effectiveness and efficiency.
• Examining the means used to protect assets and verifying their actual existence.
• Evaluating available resources to ensure their optimal use.
• Examining and evaluating automated systems, and monitoring and evaluating the levels of security and protection applied to devices and information systems.
• Preparing necessary studies and research in the fields of accounting and internal audit.
• Facilitating the tasks of inspectors of the Central Organization for Financial Control in the bank, studying their reports, and preparing the necessary responses to these reports.
• Any assurance or advisory tasks assigned to the Directorate by the Governor.

The Departments of the Internal Audit Directorate:

• Department of Local Currency Operations Audit.
• Department of Foreign Currency Operations Audit.
• Support Directorate Operations Audit Department.
• Information Systems Audit Department.
• Audit Quality Control Department.

The Tasks of the Directorate

• The Directorate sets an annual work plan to conduct inspections and oversight, approved by the Management Committee.
• It also prepares and presents to the Management Committee a work guide to implement the tasks assigned to this directorate in accordance with the provisions of the applicable laws and regulations.
• Investigating its findings or the complaints of citizens or bank employees referred to it by the administration or the Central Authority for Supervision and Inspection.
• Studying cases related to the crimes and violations mentioned in the previous paragraph in the event that a mandate is issued by the Central Authority for Supervision and Inspection to investigate them.
• Preparing the necessary reports on the observed deficiencies in the administrative organization at work, submitting the necessary recommendations to avoid them, and reporting them to the Management Committee.
• The Internal Control Directorate takes control of its findings or any other violations and economic crimes against public funds committed by employees it becomes aware of.
• This directorate may, at any time it deems appropriate, conduct a full or partial inventory and audit of the bank’s assets at the headquarter and branches, including banknotes and money of small denominations, including money delivered to treasurers.

The Departments of the Directorate:

• Department of Control, Inspection and Investigation.
• Monitoring Department.

The Tasks of Combating Money Laundering and Terrorism Financing Commission

Pursuant to Legislative Decree No. 59 of 2003, which was amended by Legislative Decree No. 33 of 2005, an independent body with judicial capacity and legal personality in the Central Bank of Syria was established under the name "Combating Money Laundering and Terrorism Financing Commission", and its mission was determined, as follows:

A. Receiving and analyzing reports of suspicious transactions and other information related to money laundering or terrorist financing operations.

B. Conducting financial investigations into operations suspected of involving illegal money laundering or terrorist financing, and adhering to the principles and procedures stipulated in Legislative Decree No. 33 of 2005 and its amendments.

C. Providing judicial authorities and other authorities competent to implement the provisions of Legislative Decree No. 33 of 2005 and its amendments with the information related to this legislative decree and requested by these authorities.

D. Developing special procedures and models to implement the provisions of Legislative Decree No. 33 of 2005 and its amendments, and monitoring their implementation.

E. Adopting the rules for exchanging information available to the financial information collection unit with counterpart units in other countries in accordance with the rules and procedures determined by the applicable Syrian laws and regulations and international, regional or bilateral agreements of which Syria is a partner, or on the basis of reciprocity. ‏

Combating Money Laundering and Terrorism Financing Commission consists of:

• Management Committee of the Commission.
• Chairman of the Commission.
• Secretary.
• Units Affiliated with the Commission.

Management Committee of the Commission:

The Management Committee of Combating Money Laundering and Terrorism Financing Commission represents its operational, regulatory and administrative reference point. The Committee consists of:

• Governor of the Central Bank of Syria (Chairman).

The First Deputy Governor of the Central Bank of Syria shall act on the Governance's behalf in the event of his absence.

• Assistant Minister of Finance (member).
• A judge appointed by the Supreme Judicial Council (member).
• Supervisory Director of the Banking Supervision Department (member).
• A representative of the Ministry of Foreign Affairs with at least the rank of director.

The Commission’s website: cmlc.gov.sy

The center aims to raise the bank employees' technical and professional level at their various job levels, improve their performance and develop their administrative and behavioral capabilities. The purpose is to deepen and integrate specialized banking expertise in various banking areas, and consistently develop training programs to keep abreast with modern and emerging developments in banking methods and services. The Center also seeks to improve the level of practical knowledge of foreign languages necessary for banking work and developing employees’ abilities to use information technologies in all aspects of banking work .