Governor of the Bank of Syria: Lifting the Caesar Act paves the way for a return to the global financial system

The Governor of the Central Bank of Syria, Abdul Qadir Al-Husariyya, confirmed that the cancellation of Sanctionsimposed on Syria under The International Monetary Fund and the World Bank, noting that the repeal of the Caesar Act is not limited to easing sanctions, but rather represents the removal of a fundamental legal barrier that was hindering Syria’s integration into the international financial system.

He pointed out that the first step in this path will be to communicate with international credit rating agencies to obtain "Advisory shadow rating" It is not announced, in preparation for obtaining a public rating when appropriate conditions exist.

Al-Hosariyya stated that obtaining a sovereign credit rating does not necessarily mean an immediate move towards borrowing, but rather aims to provide an objective assessment of the economic and financial conditions, enhance discipline in public policies, and determine reform priorities. The Governor of the Bank of Syria stated that the Bank will play a pivotal role in the next stage, by supporting monetary transparency, providing reliable economic data, enhancing financial stability, and contributing to rebuilding financial institutions.