The Governor of the Central Bank of Syria, Abdelkader Husariya, welcomed Switzerland’s decision to lift sanctions on the bank, hailing the move as “an important development” toward restoring Syria’s international financial ties and stabilizing the country’s fragile economy.
In a statement posted on Facebook on Saturday, Husariya said the bank considers the decision “a significant step that supports Syria’s economic recovery and expands prospects for international cooperation.”
He noted that Syria’s Central Bank previously maintained strong relations with several Swiss financial institutions, playing a vital role in managing the country’s foreign reserves and facilitating trade and financial exchanges with Switzerland.
“These ties were once a reflection of mutual trust and contributed to economic stability,” Husariya added, expressing hope that the latest move would mark the beginning of a constructive new phase in Swiss-Syrian relations, ultimately serving shared interests and advancing Syria’s goal of economic reintegration.
The announcement comes a day after the Swiss Federal Council declared it would lift a number of economic sanctions previously imposed on Syria, including those targeting the Syrian Central Bank. However, sanctions on individuals and entities linked to the former Assad regime will remain in force following Bashar al-Assad’s ouster on December 8, 2024.
The move is being closely watched as an indicator of Syria’s gradual reentry into the global financial system, after more than a decade of isolation under the Assad regime.
This article was translated and edited by The Syrian Observer. The Syrian Observer has not verified the content of this story. Responsibility for the information and views set out in this article lies entirely with the author.
