Syria Central Bank Reforms for Stability

The Central Bank of Syria has approved a new organizational structure aimed at strengthening governance, improving efficiency, and clarifying responsibilities within the bank, as part of efforts to develop Syria's economic and financial institutions. The structure includes defining the tasks of departments and divisions in a way that ensures coordination and addresses overlapping responsibilities, with a focus on supporting monetary stability and managing monetary policy. The bank also announced that the replacement rate of the old currency has reached 95%, leading to the complete abolition of its legal validity. This step is part of efforts to enhance financial stability and improve currency management. These measures are in line with the Syrian government's broader initiatives to develop the financial sector and enhance institutional performance in response to economic changes.

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