The Central Bank of Syria and the US Treasury discussed steps to rehabilitate Syria’s banking sector and restore its links to the global financial system during a Syria roundtable in New York. Led by Governor Safwat Raslan, the central bank delegation emphasized moving from identifying gaps to implementing measurable actions that can support the restoration of correspondent banking relationships and route payments through formal channels. The talks build on earlier discussions between the two authorities on correspondent banking, regulatory requirements and payment infrastructure. The workstreams cover electronic payment and transfer systems, anti-money laundering and countering the financing of terrorism controls, and the legal and regulatory framework. Participants also reviewed a gap assessment prepared by Oliver Wyman. In separate talks with JPMorgan, the delegation addressed rebuilding correspondent banking relationships, strengthening international ties and developing cross-border payment channels.
Central Bank of Syria and US Treasury discuss measurable steps to reconnect Syrian banks to global financial system
The Central Bank of Syria and the US Treasury discussed measurable steps to rehabilitate Syria’s banking sector and reconnect it to the global financial system. Priorities include payment infrastructure, anti-money laundering and counterterrorist financing controls, regulatory reform and the restoration of correspondent banking relationships. The Syrian delegation also discussed international payment channels with JPMorgan.