Abdulqadir al-Husriya, Governor of the Central Bank of Syria (CBS), revealed details of the new banknotes the country is preparing to issue, a move aimed at developing the monetary sector and facilitating daily transactions for citizens.
Diverse Denominations to Meet Daily Needs
Husriya explained the new currency will be issued in six denominations, ranging from “small, medium, and large.” This gradual progression of denominations is intended to ensure that daily cash circulation requirements are met more efficiently and smoothly in various markets. The CBS will later announce full details of each denomination, including its value, dimensions, and technical specifications, after all printing and issuance procedures are completed.
Modern, Abstract Design with No Symbols
One of the most prominent features of the new currency is its focus on a clean, abstract design, completely devoid of images of personalities, historical monuments, or any other symbols. According to Husriya, this approach aims to simplify the currency’s visual appearance and focus on its digital and functional identity, increasing its clarity and facilitating the process of verifying its authenticity. This design aligns with modern global trends that symbolize transparency and enhance confidence in the monetary system.
The objectives of issuing the new currency are not limited to formalities alone but extend to addressing pressing economic issues. Husriya indicated this step will address part of the liquidity shortage problem, by replacing damaged banknotes in circulation with new, more durable and high-quality ones, thus improving the smooth flow of cash transactions.
Accompanying Measures to Ensure Stability
To ensure monetary stability is not affected, the CBS Governor emphasized the introduction of the new currency will be accompanied by deliberate measures controlling liquidity and the supply of notes, continuous market monitoring, and activation of monetary policy tools preventing inflation or speculation. He also stressed the process aims for “modernization, not monetary expansion,” meaning replacing the current money supply with a more modern one without increasing its total value.
In a previous statement the CBS said about the printing the banknotes, that they will be printed by two or three “reliable international sources” using the latest anti-counterfeiting technologies, enhancing the reliability of circulation and protecting consumers.
