The separation of the Syrian banking system began in 2011 following the suppression of protests by the Bashar Assad regime.
The Central Bank of Syria has announced the first international banking transaction through the SWIFT system since the beginning of the Civil War. Reuters reported it.
The head of the Syrian Central Bank Abelcader Khusriech noted that the payment was made on June 16. The funds entered from Syrian to the Bank of Italy. This is the first of such operations after more than ten years of penalties and international separations.
According to him, within a few weeks, operations could start with the banks of America.
The insulation of the Banking Syria system began in 2011 after suppressing the protests of the Bashar Al -assad regime. For more than ten years, Syrian banks have been disconnected from Swift and lost letter accounts to western financial institutions.
After Assad was removed from the authorities as a result of the start of the opposition forces in 2024, the country’s temporary administration led by Ahmed Al-Sharaa began the process of normalizing an international relationship. The conclusion is that of the May of Al-Sharaa with US president Donald Trump in Saudi Arabia.
Thereafter, the United States softened some of the financial penalties, and the EU announced the end of the regime of economic restrictions.
Syria now needs a huge help with international assistance: according to the UN, 90% of the country’s population lives behind the poverty line.
According to Khusrusha, returning to the global financial system is the key to launching the economy and restoring infrastructure.
Remember, on June 9, we wrote that Syria will return its Swift International Payment System connection for weeks.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.