Latest news with #CentralBankofSyria
See - Sada Elbalad
3 days ago
- Business
- See - Sada Elbalad
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
See - Sada Elbalad
18-05-2025
- Business
- See - Sada Elbalad
Central Bank of Syria Reveals Truth about Changing Currency
Taarek Refaat The Central Bank of Syria confirmed that, as part of its plans to secure the market's needs for the national currency, it is completing the printing of banknotes at the Russian company with which it had previously contracted. This is in accordance with approved standards and official agreements that guarantee the quality of printing and the integrity of the procedures followed. This clarification comes in response to reports that Syria has stopped printing currency in Russia. On the other hand, the bank clarified that "regarding what has been published regarding changing the national currency or launching a completely new issue, we confirm that this issue is still under study by the Central Bank of Syria and is subject to careful assessments, including economic and technical aspects." It added, "No decision will be made in this regard before the required studies are completed and the necessary decision-making procedures are taken." According to three sources quoted by Reuters on Friday, May 16, Syria intends to print new currency in the UAE and Germany instead of Russia. The Central Bank of Syria affirmed its constant commitment to "monitoring economic developments and taking the necessary measures to achieve monetary stability and enhance confidence in the Syrian pound." Syria received a new shipment of Syrian pounds printed in Russia last March, with more shipments expected in the future, Reuters reported earlier. 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 Egypt confirms denial of airspace access to US B-52 bombers 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
Zawya
08-04-2025
- Business
- Zawya
Syria's president appoints former EY partner as central bank governor
Syrian President Ahmed al-Sharaa appointed Abdelkader Husrieh as the country's new central bank governor, according to a statement by the president's office, weeks after his predecessor tendered her resignation to allow for a new appointee. Husrieh, who was previously a partner with international accounting firm EY in Syria, was sworn in by Sharaa. Husrieh's appointment comes few weeks after Syrian central bank governor Maysaa Sabreen tendered her resignation less than three months after she was appointed to the post in a caretaker role. Sabreen told Reuters at the time that she resigned because the country's new rulers would appoint a new governor after the formation of a new government, which was announced in late March. She had pledged during her short-lived tenure to boost the bank's independence after years of corrupt state control. Economists view central bank independence as critical to achieving long-term macroeconomic and financial sector stability. While the Central Bank of Syria has always been, on paper, an independent institution, but under Bashar-al-Assad, whose regime was toppled in a lighting offensive in December, the bank's policy was de facto determined by the government. (Reporting by Menna Alaa El-Din and Hatem Maher Editing by Tomasz Janowski)
Asharq Al-Awsat
08-04-2025
- Business
- Asharq Al-Awsat
Syria's President Appoints Former EY Partner as Central Bank Governor
Syrian President Ahmed al-Sharaa appointed Abdelkader Husrieh as the country's new central bank governor, according to a statement by the president's office, weeks after his predecessor tendered her resignation to allow for a new appointee. Husrieh, who was previously a partner with international accounting firm EY in Syria, was sworn in by Sharaa. Husrieh's appointment comes few weeks after Syrian central bank governor Maysaa Sabreen tendered her resignation less than three months after she was appointed to the post in a caretaker role. Sabreen told Reuters at the time that she resigned because the country's new rulers would appoint a new governor after the formation of a new government, which was announced in late March. She had pledged during her short-lived tenure to boost the bank's independence after years of corrupt state control. Economists view central bank independence as critical to achieving long-term macroeconomic and financial sector stability. While the Central Bank of Syria has always been, on paper, an independent institution, but under Bashar-al-Assad, whose regime was toppled in a lighting offensive in December, the bank's policy was de facto determined by the government.
LBCI
27-03-2025
- Business
- LBCI
Syrian Central Bank governor submits resignation
Maysaa Sabreen, the governor of the Central Bank of Syria, told Reuters in an interview on Thursday that she submitted her resignation less than three months after assuming the position temporarily. A Syrian official and a source within Syria's financial sector confirmed that a replacement for Maysa Sabreen is expected to be appointed once the new government is formed in the coming days. Reuters
