In a highly symbolic move, the Central Bank of Syria (CBS) participated in a high-level financial dialogue meeting via videoconference, organized by the Syrian-American Business Council from Washington. The meeting, a landmark in Syrian-American relations, was attended by US Special Envoy to Syria Thomas Barrack, representatives of prominent American, international, and Syrian banks, as well as representatives from the UN and EU missions in Syria.
Money: A Bridge to Peace and Prosperity
Abdulqadir Hasri, Governor of (CBS), delivered a keynote speech titled “Money is Not Just Numbers… But a Bridge to Peace, Partnership, and Prosperity.” Hasri expressed an ambitious vision for a new phase of constructive financial cooperation between Damascus and Washington, considering Ambassador Barrack’s participation to reflect “a genuine commitment to dialogue and mutual understanding.”
A Common Language Based on Trust and Reform
Hasri based his proposal on his extensive professional experience, spanning more than two decades in global consulting firms, as well as the International Visitor Leadership Program in the US in 2008. He called for the establishment of a “common financial language” based on three fundamental pillars: absolute transparency, strong ethics, and strict regulatory discipline. He emphasized that Syria today is on the cusp of a “serious reconstruction phase” that possesses promising foundations for sustainable economic growth.
Bold Reforms and Practical Guarantees
The Governor identified key axes for reforming the Syrian financial system and enhancing international confidence. First, strengthening the fight against financial crimes by updating the legal and technical framework for combating money laundering and terrorist financing (AML/CFT) in accordance with the highest international standards.
Second, ensuring the independence of the financial unit by enhancing autonomy and efficiency of the Financial Intelligence Unit (FIU) to monitor suspicious activities. Third, building capacity by launching specialized training programs for compliance officers in Syrian financial institutions.
An Explicit Invitation to American Banks
Hasri directly invited American banks to reconsider establishing correspondent banking relationships with their Syrian counterparts and explore opportunities to open representative offices or establish partnerships within Syria.
He emphasized the CBS’ readiness to work “transparently and openly” to ensure full compliance and build bridges of trust, describing banking relations as not merely financial transfers but rather “rebuilding trust, supporting legitimate trade, and serving people’s daily lives.”
A Window to the Future
Hasri concluded his remarks with optimism and a sense of longevity, calling for moving beyond “short-term concerns toward long-term opportunities.” He described the institutions that initiated cooperation today as |active partners in shaping a modern, open, and trust-based banking future.” He thanked all participants in a “constructive meeting,” expressing his aspiration for the continuation of dialogue as “the first step in writing a new chapter in Syrian-American economic relations.”
