Governor of the Central Bank of Syria Dr. "Abdul Qadir Al-Hosria":
As part of our ongoing efforts to develop the financial and banking system in Syria and to enhance citizens' confidence in the safety of their savings, I am pleased to announce the decision of the Central Bank of Syria to establish a deposit guarantee institution.
The establishment of this institution represents a strategic step aimed at:
- Protecting depositors' funds in Syrian banks within specific limits and regulations that ensure their reassurance about their savings.
- Enhancing financial stability, which positively reflects on the strength of the banking sector.
- Supporting public confidence in the Syrian banking system, which we consider a fundamental pillar for the economic recovery phase.
- Creating a favorable investment environment to attract local and foreign capital and to stimulate the return of financial remittances from Syrians abroad.
The deposit guarantee authority is not a temporary measure, but rather part of a broader vision for reforming the financial sector in Syria, based on:
- Updating banking legislation.
- Enhancing transparency and the independence of financial institutions.
- Building a modern financial safety net that aligns with international standards.
Completing the establishment procedures is another important step for the financial sector to be a fundamental supporter of rebuilding the national economy.
