Syria conducted a SWIFT transfer for the first time since 2011

On June 15, for the first time in 14 years, the Syrian government made a transfer through the SWIFT system, which was credited to an Italian bank account. This was announced by the head of the central bank of the country, Abdulkader Husrie. He noted that this transaction represents a significant step for Damascus towards restoring its position in the global financial system.

Earlier, Khusriye announced an initiative to stabilize the Syrian economy, which the financial regulator is working on in cooperation with the Ministry of Finance. The main objective of the proposed measures is to restore citizens' trust in the state financial system, as well as to encourage Syrians to invest actively. During his speech on June 9, the head of the Central Bank mentioned plans to reconnect the country to the SWIFT system.

Since 2011, Syria has been disconnected from the international payment system due to the civil war and Western sanctions. These restrictions significantly slowed down the country's economic development, in particular, an embargo on oil imports was imposed and the supply of modern technologies was limited.