Idlib Branch Back in Service
The Central Bank of Syria (CBS) reopened its branch in Idlib province on 1 July 2026, ending a shutdown that had lasted about 10 years. The bank's governor led the ceremony, which was attended by the provincial governor.
Officials said the branch is meant to widen access to banking for residents and businesses, revive financial activity across the province, and support local development after a decade in which formal banking was largely absent.
Turkish Lira to Be Phased Out
The bank said it will gradually withdraw the Turkish lira (TRY) from circulation in the province and halt further inflows of the currency, following arrangements agreed with the Turkish side. Residents and businesses were urged to conduct all transactions in the Syrian pound (SYP).
The step fits a broader push to consolidate the national currency, which has firmed against the US dollar (USD) over the past week. Restoring the pound as the sole medium of exchange in the northwest would extend monetary authority to an area that had leaned on the lira for years.
Regulated Banking Returns
The governor described the reopening as an important step for banking infrastructure in the province and across the country, signaling the return of bank branches, exchange houses and money-transfer firms to operate under full regulation.
He said the branch would also restore oversight of financial and banking operations and help finance small and medium-sized enterprises, part of a plan to widen the bank's branch network and bring services closer to the public.
Part of a Wider Reopening
The Idlib opening follows the reactivation of the bank's Raqqa branch on 25 June 2026, which had been closed since 2013. The provincial governor called the return of a central bank presence a turning point for commercial, industrial and agricultural activity in the region.
Authorities framed both moves as part of a government effort to restore financial and public institutions in provinces that spent years cut off from the central banking system.