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Syria to Develop New Currency, Says Minister

Taarek Refaat Syrian Economy Minister Mohammad Nidal al-Shaar revealed that the new government is currently working on developing a new currency, which is planned to replace the old currency depicting former Syrian President Bashar al-Assad. He explained that the new Syrian government will not make any hasty decisions in this regard, and that the issue is being dealt with calmly and patiently. He pointed out that liquidity is the main challenge facing the Syrian economy. The new Syrian government seeks to solve the liquidity crisis by printing the new Syrian currency. It intends to partner with companies in the UAE and Germany instead of Russia. Even after Bashar al-Assad fled, the new Syrian government maintained relations with Russia and received several shipments of banknotes in recent months along with fuel and wheat shipments. The new government is in advanced talks regarding a deal to print the new Syrian currency with the Emirati company "Ammalat Security Printing", which the Governor of the Central Bank of Syria and the Minister of Finance recently visited. It is also in talks with the German companies "Bundesdruckerei" and "Giesecke Plus Devrient" to print the new Syrian currency. The Shape of the New Syrian Currency According to Syrian sources, the shape of the new Syrian currency will include a redesign to remove the image of former Syrian President Bashar al-Assad from one of the purple Syrian pound denominations still in circulation. The government will print large quantities of the new Syrian currency to solve the country's liquidity crisis and pay employee salaries. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks