Latest news with #CentralBankofSyria
Jordan News
06-07-2025
- Business
- Jordan News
Jordanians Exempt as Syria Implements New Entry Fee Policy - Jordan News
A decision to revise entry and transit visa fees for Arab and foreign nationals entering Syria came into effect Sunday, as part of what the Syrian Ministry of Foreign Affairs described as a new security and economic entry policy. اضافة اعلان Under Decision No. 128, the fees are to be collected in U.S. dollars or their equivalent based on the official exchange rates set by the Central Bank of Syria. Any fractional amounts are rounded up, and the fees are paid directly at border crossings or Syrian airports. The decision classifies countries into 11 groups, with four countries fully exempt from all entry fees: Jordan, Lebanon, Malaysia, and Mauritania. Additionally, Serbian citizens are allowed to enter Syria free of charge. For other nationalities, the entry fee varies based on entry type (single or transit), length of stay (one, three, or six months), and number of entries. The highest visa fee was set for Iranian citizens, amounting to $400 for a single-entry visa valid for one month. The United States follows with a fee of $200, while citizens of most European countries are subject to a $75 fee. A standard $50 fee applies to any country not specifically listed in the groupings, for a single-entry visa valid for one month. The move comes amid increasing travel to Syria for tourism, investment, and family visits, and reflects the government's aim to regulate border entries and boost state revenue in the post-war recovery phase. Previously, the Syrian Ministry of Interior issued a separate decision grouping countries into ten categories based on bilateral relations and geopolitical importance, with special consideration given to Arab nations and countries with global influence. Key Groups and Entry Fee Details: Group 1 – Visa-Exempt Countries Citizens of these four countries are exempt from entry visas and may stay up to six months: Jordan Lebanon Mauritania Malaysia This exemption is part of Syria's effort to ease travel for citizens of neighboring or strategically aligned countries. Group 2 – Multiple-Entry Visa (3 Months) – $150 Applies to countries with strong bilateral ties with Syria: Kuwait, Qatar, Saudi Arabia, and Turkey Despite political fluctuations, Turkey is considered an important economic partner. Group 3 – Single-Entry Visa (15 Days) – $40 or Transit (3 Days) – $25 Includes nations with moderate diplomatic ties to Syria, primarily from: Latin America: Brazil, Argentina, Chile, Venezuela, Colombia, Mexico, Cuba Asia: Nepal, Bangladesh Caribbean/Pacific: Samoa, Fiji Arab world: Yemen (only Arab state in this group) Group 4 – Single-Entry Visa (15 Days) – $75 or Transit – $25 Includes: Eastern Europe/Central Asia: Armenia, Uzbekistan, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Turkmenistan, Ukraine Balkans: Albania, Bosnia and Herzegovina, Kosovo, North Macedonia, Serbia Asia-Pacific: South Korea, Singapore, New Zealand Group 5 – Single-Entry Visa (15 Days) – $125 or Transit – $30 Includes a large number of Arab and European countries: Arab countries: Algeria, Morocco, Tunisia, Sudan, Libya, Bahrain Western Europe: Spain, France, Germany, Italy The Syrian government says these adjustments reflect a balanced visa policy based on economic, geopolitical, and diplomatic considerations, while also targeting new revenue streams as Syria seeks to reengage with the region and the world.
Saudi Gazette
05-07-2025
- Business
- Saudi Gazette
Syria rules out foreign borrowing as central bank hails post-Assad recovery
DAMASCUS — The Governor of the Central Bank of Syria, Abdul Qader Husariya, confirmed on Friday that Syria will not resort to borrowing from international institutions, as the country begins to emerge from years of conflict following the collapse of the Assad regime. 'Syria, by order of President Ahmad al-Sharaa, will not resort to external debt, nor will there be any borrowing from the International Monetary Fund or the World Bank,' Husariya said in remarks published by state news agency SANA. Husariya noted that the Syrian pound has appreciated by 30% since the downfall of Bashar Al-Assad's regime in late 2024, signaling increased economic stability. He ruled out any move to peg the national currency to the US dollar or euro, stating that the government aims to foster a production-driven economy supported by exports, rather than high interest rates or speculative investments. 'The investment environment is now qualified to provide stable returns for investors,' he said, describing the recovery as the first time in seven decades that all sectors of the Syrian economy have reactivated fully. The comments come in the wake of President Donald Trump's June 30 executive order lifting longstanding U.S. sanctions on Syria. That move was followed by similar decisions from European nations, providing a boost to Syria's international financial access and economic prospects. In a signal of reform, Husariya announced that Syria will soon establish a deposit insurance institution and unify the exchange rate of the Syrian pound within months. He also confirmed that real estate loans will soon be available to Syrians living abroad. 'Syria has embarked on a new phase of monetary and banking openness, parallel to the beginning of the end of the decades-long isolation of the banking sector,' he said. In June, Syria executed its first direct international bank transfer in 13 years, from a local bank to an Italian institution, using the SWIFT system, a milestone enabled by eased Western restrictions. President Ahmad al-Sharaa assumed leadership of a transitional administration in January 2025, following Assad's departure to Russia in December and the collapse of the Baath Party's rule, which had lasted since 1963. — Agencies
See - Sada Elbalad
30-05-2025
- 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)
