Syrian Central Bank Reactivates Account with U.S. Federal Reserve

Welat TV – Erbil

The United States Department of the Treasury welcomed the announcement by the Central Bank of Syria that it has officially reactivated its account with the Federal Reserve Bank of New York for the first time since 2011.

In a statement posted on the X on Tuesday, March 10, 2026, the U.S. Treasury said the lifting of sanctions was “only the first step toward realizing Syria’s historic vision and prosperity.” It added that Washington is working with the new Syrian government to responsibly reintegrate Syria into the global financial system. 

The Treasury also welcomed the Syrian central bank’s announcement regarding the reopening of its account at the Federal Reserve Bank of New York.

On February 28, the Central Bank of Syria announced it had completed procedures to settle its banking relations with the Federal Reserve Bank of New York and reopen its account, a move that reflects institutional progress in reorganizing Syria’s external financial relations and strengthening its integration into the global financial system, according to the Syrian Arab News Agency (SANA).

Meanwhile, the governor of the Central Bank of Syria, Abdul Qadir al-Husriyya, announced on March 7 that an agreement had been reached with the Bank of Canada to begin the procedures necessary to open an account for the Syrian central bank, a step he said would facilitate international transfers and enhance Syria’s ability to manage its foreign currency reserves.