{"id":26385,"date":"2025-06-10T19:00:25","date_gmt":"2025-06-10T16:00:25","guid":{"rendered":"https:\/\/reganews.co.il\/en\/?p=26385"},"modified":"2025-06-10T16:29:19","modified_gmt":"2025-06-10T13:29:19","slug":"syria-takes-first-step-toward-financial-reintegration","status":"publish","type":"post","link":"https:\/\/reganews.co.il\/en\/syria-takes-first-step-toward-financial-reintegration\/","title":{"rendered":"Syria Takes First Step Toward Financial Reintegration"},"content":{"rendered":"

Syria will reconnect to the global SWIFT financial messaging system within the next few weeks, according to Abdulqader Husrieh, Governor of the Central Bank of Syria, in an interview with the Financial Times<\/em> published Monday.<\/p>\n

Since the outbreak of the civil war in 2011, Syria has been disconnected from SWIFT\u2014a severe sanction that crippled the country\u2019s ability to engage in international economic activity and left it financially isolated.<\/p>\n

\"\"
Markets in Damascus | Photo: hanohiki \/ Shutterstock<\/figcaption><\/figure>\n

A Key Step in Economic Recovery<\/strong>
\nHusrieh described the move as a critical step in rebuilding Syria\u2019s devastated economy and restoring its access to international financial markets after years of sanctions.
\n\u201cOur goal is to rebrand Syria as a financial hub, especially in light of expected investments in infrastructure and reconstruction,\u201d he said.<\/p>\n

Husrieh added that returning to SWIFT is expected to promote foreign trade, lower import costs, and facilitate exports\u2014bringing in much-needed foreign currency to support Syria\u2019s struggling economy. It will also strengthen efforts to combat money laundering and reduce dependence on informal financial networks.<\/p>\n

\"\"
Syria | Photo: Shutterstock<\/figcaption><\/figure>\n

What Is the SWIFT System?<\/strong>
\nSWIFT is a global communications platform that allows banks and financial institutions around the world to securely, reliably, and efficiently exchange financial information. It was established in 1973 by 239 banks from 15 countries to replace outdated communication systems of the time.<\/p>\n

New Government, New Chapter<\/strong>
\nFollowing the fall of Bashar al-Assad\u2019s regime at the end of last year, the international community is once again opening its doors to Syria, offering the country new opportunities.<\/p>\n

Syria received significant relief when former U.S. President Donald Trump unexpectedly announced the lifting of sanctions last month. Since then, the European Union has joined the effort, announcing a \u20ac175 million aid package last week to support the country\u2019s social and economic recovery.<\/p>\n

Dubravka \u0160uica, the EU Commissioner for the Mediterranean, stated:
\n\u201cSyria stands at a crossroads,\u201d with potential for a transition to peace and stability.<\/p>\n","protected":false},"excerpt":{"rendered":"

After more than ten years of isolation, Syria is rejoining the SWIFT network. 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