The Central Bank of Syria is a public institution with financial and administrative independence. It implements the monetary policy decided by the Monetary and Credit Council and operates under the supervision and guarantee of the state. It functions within the general directions of the economic policy approved by the Council of Ministers.

The Central Bank of Syria carries out the following tasks:

·       The Central Bank of Syria serves as the state bank and exercises its functions within the territory of the Syrian Arab Republic and beyond.

·       The Central Bank of Syria has the responsibility of issuing currency on behalf of the state.

The state may entrust the Central Bank with the authority to issue short-term, medium-term, or long-term treasury bonds, as well as manage the processes of exchanging and repaying them, subject to conditions determined by the Council of Ministers. Additionally, the Central Bank may be entrusted with other financial tasks related to loans issued or guaranteed by the state. The bank also participates in negotiations for external loans conducted on behalf of the state or represents the state in such negotiations under conditions determined by the Minister of Economy and Foreign Trade. Furthermore, the Central Bank assists the government and its representatives in their dealings with international financial organizations.

• Supervising and monitoring banks in accordance with the directives of the Monetary and Credit Council.
• Conducting all studies and compiling statistics related to the status of banks and banking activities in the country.
• Monitoring matters related to banking risks, collecting information on credit risks associated with bank customers periodically, and communicating it confidentially and promptly to the relevant banks.
• The Central Bank of Syria is responsible for carrying out banking operations belonging to the state or its institutions, which are subject to special legal provisions. These operations are conducted in accordance with the provisions outlined in relevant laws and regulations, and are backed by a state guarantee.
• The Central Bank of Syria is tasked with managing the exchange office.
• It carries out all exchange operations with foreign entities, including obtaining credits from abroad with or without guarantees, granting credits abroad, re-discounting or mortgaging its transactions abroad, and ensuring the proper execution of these transactions and associated credit operations.
• It participates in negotiations of international agreements for payments, exchange, and clearing, is entrusted with their implementation, and concludes all practical agreements necessary to execute the aforementioned agreements.
• The Central Bank of Syria has the authority, by decision of the Council of Ministers based on the proposal of the Monetary and Credit Council and the approval of the Minister of Economy and Foreign Trade, to regulate, when necessary, the operations of banks and other financial institutions subject to state control or under its guarantee.
• Conducting all gold and foreign exchange operations.
• Discounting bills of exchange and commercial bonds, purchasing and relinquishing them, and providing loans and advances for various economic activities.
• Discounting short-term bonds issued or guaranteed by the state.
• Purchasing medium-term and long-term bonds issued or guaranteed by the state, relinquishing them, and conducting bond repurchase (repo) operations.
• Providing loans and advances to the state or guaranteeing them.