Syria Signs Banking Sector Assessment Deal With Qatar Fund and Oliver Wyman

Syria's Finance Minister Mohamed Yisr Barnieh signed an agreement on 17 April 2026 with the Qatar Fund for Development and consulting firm Oliver Wyman to evaluate the country's banking and financial sector. The initiative is backed by the US Department of the Treasury and the World Bank. The signing ceremony took place in Washington on the sidelines of the World Bank and International Monetary Fund Spring Meetings. Central Bank of Syria (CBS) Governor Abdelkader Husrieh and Qutayba Qadish, director of international cooperation at Syria's Ministry of Foreign Affairs and Expatriates, also participated, according to SANA. ## Scope and Objectives The project will conduct a comprehensive assessment of Syria's banking institutions and nonbank financial entities. The resulting findings will produce a roadmap and action plan aimed at upgrading financial infrastructure and strengthening the sector's capacity to finance development projects, Levant24 reported. The initiative builds on earlier Qatar-backed programs and a memorandum of understanding signed in early 2026 between the World Bank and the Qatar Fund for Development, which aims to improve coordination between public and private sectors during Syria's recovery and reconstruction phase. ## Role of International Partners Oliver Wyman, a global management consulting firm, will provide technical expertise in risk management, institutional reform, and regulatory development. The US Treasury's involvement reflects Washington's engagement in Syria's financial governance reform alongside broader policy adjustments on sanctions. Syria's banking system has operated largely in isolation from international financial networks for more than a decade due to Western sanctions and restrictions on correspondent banking relationships. Re-establishing those links is considered a prerequisite for channeling reconstruction financing, facilitating trade finance, and enabling cross-border remittances for millions of Syrians. Finance Minister Barnieh described the agreement as "a strategic step strengthening the integrity and readiness of Syria's financial system," according to Levant24. The deal represents one of the most concrete steps toward integrating Syria's financial sector into international standards since the fall of the Assad government in late 2024. Syria is in active discussions with international creditors and donors, including through the World Bank's spring sessions. The banking and financial sector assessment is expected to underpin future reform commitments and help unlock access to broader multilateral financing mechanisms.