اخبار سوريا اليوم – وطن نيوز
سوريا اليوم – اخبار سوريا عاجل
W6nnews.com ==== وطن === تاريخ النشر – 2026-05-18 13:35:00
Contrary to the financial norms regulating the stability of central banks, on May 15, the Syrian Ministry of Foreign Affairs and Expatriates issued a surprising decision appointing the Governor of the Central Bank of Syria, Abdul Qader Al-Husriyya (after his dismissal from the governorship position), to a new position, which is Syrian Ambassador to Canada. The sudden dismissal of the central bank governor in any country, shortly after assuming the governorship, could lead to a sharp decline in the value of the currency. The effect depends, as is usual in many countries, on: The reason for the dismissal. Whether there is stability in the national currency for a long time, or not. Independence of the central bank. Market confidence in government and monetary policy. Examples of the connection between the stability of the central bank governor’s presence in office and the stability of the local currency are many, perhaps the most notable of which is what happened in March 2021, when the Turkish lira lost 12% of its value against the dollar, after Turkish President Recep Tayyip Erdogan suddenly dismissed the head of the Central Bank of Turkey, Naji Agbal, after assuming the position for less than five months. The exchange rate of the Syrian pound against the US dollar recorded a new high this morning since the market opened yesterday, two days after the dismissal of the exclusive governor, settling at 13,850 Syrian pounds to the dollar, after it was 13,600 pounds last Saturday. What did the exclusive do in a year? Al-Husariyya, who has only been one year and one month since assuming the governorship, issued many decisions on files related to monetary policy. However, according to what Enab Baladi monitored through discussions with a number of experts, the most notable thing that happened during it was: the Syrian pound lost about 27% of its value since April 2025, when the exchange rate was 11,150 Syrian pounds against the dollar, until May 2026 when the exchange rate recorded 13,700 Syrian pounds against the dollar. Marginalization of the public banking sector, which many people with limited income in Syria depend on, and which holds an important market share that exceeds private banks in Syria. Continuing the policy of draining liquidity from the markets, with the aim of stabilizing the exchange rate, which was of no benefit, so the lira continued to decline, and the old currency continued to be traded. Obliging international remittance companies to deliver external remittances to citizens in Syrian pounds, while allowing them a price margin not exceeding 15%. Moving the official exchange rate under the weight of the decline in the value of the Syrian pound on the black market. Uncertainty about the true size of old coins in the markets. Excluding exchange companies and offices from the process of replacing the currency, which prompted these financial institutions to re-introduce the old currency to the markets, contrary to the executive instructions for the decision to replace the old currency, not to pump the old currency into the markets. The official news agency (SANA) quoted the Department of Media and Communications at the Ministry of Foreign Affairs as saying that the decision to appoint Al-Hosariyya as ambassador to Canada comes “in appreciation of his efforts during his previous work within the Syrian government, and the contributions he made in supporting institutional work and enhancing performance in the files entrusted to him.” Al-Husariyya was appointed governor of the Syrian Central Bank by presidential decree, while he was appointed ambassador by ministerial decision, without Enab Baladi being able to know whether his appointment had been terminated by decree. Economist: Judging the Central Bank cannot be accurate. Commenting on the features of an exclusive period in the Central Bank, the Syrian economic and financial expert, Dr. Ali Muhammad, in an interview with Enab Baladi, considered that judging the governance performance of the Central Bank of Syria, or any central bank in the world, cannot be an accurate or objective judgment within a short period of time, because monetary and financial policies need time to show their real results on the economy and markets. Muhammad believes that what the Syrian Central Bank did during the past year, or during the past sixteen months, falls within the framework of preparing the financial and banking environment and trying to rebuild the foundations of monetary and financial work in the country. We have witnessed steps that can be considered positive, according to the expert, whether by starting to implement reform policies, or by seeking to reconnect Syria with the global financial system. There are also important developments achieved in this regard, including: steps related to lifting some sanctions. The return of some transfer and banking services. Opening accounts with correspondent banks. Signing memorandums of understanding and agreements with international electronic payment companies. He considered that all of these are indicators that indicate a trend to gradually reintegrate the Syrian financial sector into the international financial system. Negative impressions on the decision on foreign transfers. On the other hand, the Syrian expert confirmed that it cannot be denied that there were some negatives or observations on the performance of the Syrian Central Bank during the last period, especially with regard to some decisions that came as a surprise to the financial and banking markets. For example, some procedures related to liquidity or financial transfers have created a state of confusion among dealers. Decisions related to transfers in Syrian pounds through local transfer networks gave some negative impressions, although the Central Bank of Syria later tried to clarify the objectives of these measures and mitigate their effects. Adjusting the official exchange rates and granting a wider margin of movement to the price of the Syrian pound. But this latest amendment, the expert explained, can be understood within the framework of an attempt to recognize the actual reality of the market, and reduce the gap between the official price and the parallel market price, which is a step that may be necessary from an economic standpoint, although it requires careful management and clearer communication with public opinion and the markets. The stability of the economy is not the responsibility of the Central Bank alone. Dr. Muhammad believes that the evaluation of the past stage should not be a hasty or final evaluation, because the implementation of monetary policies and strategies requires time and continuous effort at various levels. It must also be emphasized that the stability of the economy and the strength of the Syrian pound are not the responsibility of the Central Bank of Syria alone, but rather are the result of a joint governmental and economic effort, including monetary policy, financial policy, production, investment, and trade. He pointed out that the central bank can be more effective when it has strong reserves, stable resources, and effective tools for managing the money market and controlling inflation. Hence, any steps towards developing the financial market or activating new monetary tools can be considered positive steps, provided that they have the real components and the appropriate economic environment, most notably enhancing reserves, supporting production and stimulating economic activity in general, according to the same expert. A banking director: Dissatisfaction with the exclusivity decisions. A director in the public banking sector told Enab Baladi (reserved to publish his name), on May 14, that there is a state of confusion prevailing in the decisions of the Central Bank of Syria, related to banks, as a decision was recently issued to extend the deadline for currency exchange to next June 30, and to limit currency exchange to operating banks and excluding exchange companies and offices, which sparked a state of anger and tension among the owners of these companies, especially the 26. An office and a company coming from northern Syria, and obtained initial licenses to work inside Syria. The Syrian Ministry of Finance dismissed the Director General of the Commercial Bank of Syria, Iyad Bilal, “at the suggestion of the Central Bank of Syria,” seized his movable and immovable assets, subjected him to investigation by the Central Financial Supervision Agency, and placed him at the disposal of the Minister of Finance. Enab Baladi tried to find out the reasons for the exemption, whether from the Central Bank or the agency, without receiving a response, amid a state of secrecy from both parties. A proposal to appoint Nasser Al-Din Al-Mawlawi, a private sector banker, who previously worked for two private Islamic banks, the International Islamic Bank of Syria and Al-Baraka Bank, to assume the position of General Manager of Al-Tijari. Before 15 days had passed since Al-Mawlawi assumed the position of Director General of the Syrian Commercial Bank, he was relieved by the Syrian Finance Ministry at the suggestion of the Central Bank itself, without clear reasons, and the director of Branch “6” of the Syrian Commercial Bank, Bilal Abdeen, was assigned to the position. Who is Abdel Qader Al Hosria? Abdul Qader Al-Hosria was born in Damascus in 1961. He received his academic education at the Faculty of Business Administration at the American University of Beirut, where he obtained bachelor’s and master’s degrees in business administration. He also obtained a doctorate in finance from Durham University in the United Kingdom, preparing his thesis on the role of financial markets in housing finance. Al-Hosria obtained a Master’s degree in Common Law from Osgood Law School in Canada, where he conducted research on developing the regulation of digital currencies and assets, in addition to obtaining a law degree from the University of Damascus, and a degree in computer science from the Lebanese American University. He also completed several specialized executive programs, including the program on tax policy and tax administration at the Harvard Kennedy School, the housing finance and capital market development program at the Wharton School at the University of Pennsylvania in the United States, in addition to the real estate finance program at the Massachusetts Institute of Technology. In addition to his long experience in financial consulting and auditing, Hosria has extensive experience in banking and regulatory regulations in Syria and the Middle East region, where he played a prominent role in drafting banking laws in Syria, including the Islamic Banking Law, the Exchange Companies Law, the Financial Leasing Law and the Central Bank of Syria Law. It also contributed to developing the real estate financing model and related legislation, regulating the profession of real estate appraisal experts, and applying international financial reporting standards in the banking sector and companies. Then he participated in setting the regulations for the Syrian Securities and Financial Markets Authority and the Damascus Stock Exchange. In cooperation with the World Bank, he contributed to the development of the public-private partnership law, in addition to the institutional framework for this partnership. He also provided consultations to reform the Central Bank of Syria in cooperation with the United Nations Development Program (UNDP), where he worked to develop regulatory frameworks for the banking sector and enhance the efficiency of monetary policies. He also served as a member of several boards of directors, including the Real Estate Finance Authority, the General Organization for Social Insurance, the General Housing Authority, and the Real Estate Investment and Development Authority. Raslan as new governor of the Syrian Central Bank. In turn, the Syrian President, Ahmed Al-Sharaa, issued Decree No. “99” of 2026 appointing Muhammad Safwat Raslan as governor of the Central Bank of Syria. The decree appointing Raslan, which was published by the Syrian News Agency (SANA), on May 15, follows the decision of the Ministry of Foreign Affairs and Expatriates to appoint Abdul Qader Al-Husriyah as Syrian ambassador to Canada, about a year after his appointment as governor of the Syrian Central Bank. SANA quoted the Media and Communications Department at the Ministry of Foreign Affairs as saying that the decision to appoint Al-Hosariyya comes “in appreciation of his efforts during his previous work within the Syrian government, and the contributions he made in supporting institutional work and enhancing performance in the files entrusted to him.” Related
