ع
In an exclusive statement to Qatar News Agency, Central Bank of Syria Governor Safwat Raslan described the US decision as a significant development that could lay the groundwork for the Syrian financial sector to rebuild relations with global counterparts. Raslan told the agency the move enables a gradual return to cross-border financial transactions while expanding channels for trade and remittances that stand to benefit once technical requirements are met. The governor stressed that the central bank would address outstanding legal and regulatory hurdles through a phased approach focused on compliance standards. Qatar News Agency reported that Raslan framed the shift as an opportunity for Syria to reintegrate into the international economy on modern foundations.
The United States removed Syria from its list of state sponsors of terrorism on August 24 after a 45-day congressional review that began when President Donald Trump notified lawmakers on July 8, according to a Reuters dispatch. A US Treasury press release issued the same day said the action, which also revoked a related terrorist designation for the Nusrah Front, aims to foster additional investment and promote political as well as economic stability in Syria. Only Cuba, Iran and North Korea remain on the list following the announcement, Reuters reported. US Secretary of State Marco Rubio stated that the delisting recognizes positive actions and commitments by the Syrian government under President Ahmed al-Sharaa to distance the country from international terrorism.[[1]](https://www.reuters.com/world/middle-east/us-removes-syrias-designation-state-sponsor-terrorism-2026-08-24/)[[2]](https://home.treasury.gov/news/press-releases/sb0612)
Raslan added that the delisting is not expected to produce an automatic lifting of all restrictions, as banks and institutions must still navigate separate legal, regulatory and technical conditions before full engagement. The governor told Qatar News Agency that the central bank has prioritised strengthening regulatory frameworks, supervision, risk management and anti-money laundering measures to prepare the sector. He noted that developing cooperation with regional and international financial institutions forms a core part of the bank’s current work. Raslan further highlighted the banking sector’s role in creating an efficient, transparent investment environment that requires sustained coordination across institutions.
Syria was first placed on the US terrorism sponsor list in 1979, a designation that layered extensive sanctions on the central bank, government bodies and key industries over subsequent decades, an analysis published by Open The Magazine noted. A sanctions update from Karamshaar.com reported that the Central Bank of Syria reactivated its account at the Federal Reserve Bank of New York in March 2026, reopening a limited channel for US dollar settlements after 15 years. Reuters separately reported that Mastercard has been working with Qatar National Bank and the Syrian central bank since May to prepare infrastructure for international card payments inside the country. These steps illustrate incremental progress toward normalisation even before the formal delisting took effect.
The central bank governor stated that remittances are expected to see a positive impact once all conditions are satisfied, supporting households and the wider economy recovering from years of conflict. According to the US Treasury, the delisting eliminates final major barriers for private-sector investment and aids Syria’s reintegration into the global economy. Raslan told Qatar News Agency the bank is working to build a modern and reliable financial system that can capitalise on the new phase. A separate Al Jazeera report quoted Raslan posting on X that the decision restores Syria to its natural place in the global economic system.[[3]](https://www.aljazeera.com/news/2026/8/24/us-removes-syria-from-state-sponsor-of-terrorism-list)
Further coordination between the central bank, government ministries and international partners will be required to translate the delisting into tangible gains for trade finance and foreign direct investment, Raslan indicated in the statement to Qatar News Agency. The governor emphasised that technical infrastructure upgrades and compliance enhancements remain immediate priorities for the banking sector. Industry preparations, including those involving global payment networks, are already under way as the central bank advances its reform agenda.
