The Central Bank of Syria has opened a branch in Idlib governorate, presenting the move as part of a broader effort to restore its institutional presence in the province and reassert supervision of the banking sector across Syria. Governor Safwat Raslan said the branch will strengthen oversight of banking activity and support monetary and financial stability, while reiterating that the central bank acts as a bank for banks and for the government rather than a provider of direct banking services to individuals. Raslan said the next phase will focus on reactivating the operations of public banks, alongside exchange and remittance companies, under Central Bank of Syria supervision so that the sector operates within legal and regulatory frameworks. He also said meetings with the governor of the Turkish central bank and PTT officials resulted in an agreement to begin gradual and orderly steps to withdraw the Turkish lira from circulation inside Syria while stopping any new injections of the currency, with the Syrian pound reaffirmed as the currency for settling local transactions.
Central Bank of Syria2026-07-02
Central Bank of Syria opens Idlib branch and outlines gradual withdrawal of Turkish lira from Syria
The Central Bank of Syria has opened an Idlib branch to restore its supervisory presence in the province and strengthen oversight of banking activity. The next phase includes reactivating public banks and bringing exchange and remittance companies under its supervision. Governor Safwat Raslan also said Syria had agreed with Turkish central bank and PTT officials to begin a gradual withdrawal of the Turkish lira from circulation while halting new injections.