The U.S. Department of the Treasury discusses with the Central Bank of Syria steps to reconnect the Syrian banking sector to the global financial system

In New York, the U.S. Department of the Treasury hosted the Central Bank of Syria delegation, headed by the Governor, Mr. Safwat Raslan, during the roundtable on Syria, to discuss the rehabilitation of the banking sector and the strengthening of its connection to the global financial community.

The Governor affirmed that Syria is not seeking an exception or special treatment, but rather is working to restore its natural position in the global financial system, noting that moving from identifying gaps to implementing measurable actions is what the Central Bank of Syria is working on, in a manner that supports the restoration of correspondent banking relationships and the flow of payments through formal channels.

The delegation reviewed the workstreams, in particular the development of the electronic payment and transfer system, combating money laundering and terrorism financing, and the development of the legal and regulatory framework; a review was also conducted of the gap assessment report prepared by the firm Oliver Wyman.

The Bank's delegation also discussed with JPMorgan the strengthening of international relations, the rebuilding of correspondent banking relationships, and the development of international payment channels.

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