Governor of the Central Bank of Syria Dr. Abdul Qader Al Hasriya affirmed that the bank is continuing its efforts to enhance monetary stability, rebuild the institutional and regulatory structure of the banking sector, develop national payment systems, and attract investment and enhance confidence in the Syrian economy.

In an interview with Qatar News Agency (QNA), Dr. Al Hasriya praised Qatar's continued support for Syria, stressing that this support contributes significantly to the development of the Syrian banking sector, both through partner Qatari banks and their pioneering expertise in oversight and digital transformation.

Dr. Al Hasriya explained that the areas of cooperation between the Central Bank of Syria and Qatar Central Bank are broad and promising. They represent an inspiring model for enhancing financial stability and national economic renaissance. It also enables the exchange of technical and professional expertise, which will positively impact comprehensive reconstruction efforts across various sectors.

The Governor of the Central Bank of Syria said that Qatar has been and continues to be a key partner and an effective supporter of the Syrian people and the national economy. He pointed out that Qatari support extended from contributing to the banking sector through the establishment of the first Islamic bank in Syria and a conventional bank, which prompted the formulation of pioneering banking legislation and the provision of financial and technical support, which contributed to the stability of the monetary sector during the current phase.

He explained that the State of Qatar, along with the Kingdom of Saudi Arabia, recently contributed approximately $15 million to the settlement of Syria's debts owed to the World Bank Group, describing this step as having symbolic and political significance that goes beyond its financial value.

Qatar's experience in banking, whether in the areas of oversight, payment systems, or digital transformation, represents a model to be emulated in the region and the world, he explained, emphasizing the Central Bank of Syria's aspiration to benefit from this experience, particularly at this stage, which focuses on achieving monetary stability and building an integrated monetary policy framework.

Dr. Al Hasriya explained that the bank's current policy is based on achieving monetary stability, building an institutional framework and tools for monetary policy, restructuring the banking sector, and licensing new banks to meet the needs of the Syrian economy.

He explained that the Syrian pound's exchange rate has improved by approximately 35%. He emphasized that work is underway to develop national payment systems fully owned by the bank in preparation for opening up to the private sector and expanding the scope of innovative financial services.

Dr. Al Hasriya stressed that the new economic policy avoids resorting to commercial loans or borrowing from global financial markets, preferring to focus on attracting foreign investment and providing financing from development funds to avoid debt crises that would cripple the national economy. He also affirmed that the Syrian pound will not be pegged to any foreign currency to maintain monetary independence.

Regarding the correspondent banking network and the SWIFT system, he noted that the lifting of sanctions in May revived efforts to activate this network between Syrian banks and their global counterparts. He emphasized the importance of economic diplomacy and building trust through strengthening anti-money laundering systems and updating legislation, which will give foreign banks confidence in dealing with the Syrian sector.

Dr. Al Hasriya stressed the importance of attracting investments, and that the bank plays a pivotal role in this by strengthening the banking sector, expanding the correspondent network, licensing new banks, addressing liquidity problems, and reforming the exchange rate system, thus providing investors with stability and the ability to repatriate their profits and capital.

He explained that the real estate financing project returned today as part of an integrated plan in cooperation with the Ministry of Finance. The project is based on a modern, integrated real estate financing system that takes into account income levels and allows tenants to purchase homes and convert what they pay as rent into ownership installments. This will contribute to the return of displaced persons and the stability of families.

Concluding his remarks to QNA, Governor of the Central Bank of Syria Dr. Abdul Qader Al Hasriya expressed confidence that the next phase will witness accelerated steps to enhance monetary stability, develop the banking infrastructure, and expand cooperation with international partners, primarily Qatar, which he described as an inspiring model of economic and financial development and a strategic partner in the process of rebuilding Syria.