Syria's Central Bank to Launch Electronic FX Platform with Foreign Partner

The Central Bank of Syria (CBS) is preparing to launch an electronic platform, developed with an international partner, to regulate the country's foreign exchange market and support stability of the Syrian pound (SYP), Governor Abdelkader Hosrieh said on 18 April 2026 in remarks carried by Syria TV. Hosrieh said the platform aims to deliver "a fair and balanced exchange market," according to Syria TV, and that the CBS is in advanced stages of selecting the technology partner. He linked the initiative to a broader rebuild of the monetary system after years of disruption and said the bank had already made progress on currency stability in recent months. ## Reopening correspondent banking The governor detailed a widening web of correspondent accounts that the CBS has opened abroad. According to Syria TV, the bank now holds accounts at the US Federal Reserve, the Bank of Canada, the Central Bank of the United Arab Emirates, and the Central Bank of the Republic of Türkiye. Hosrieh said the network supports the gradual return of Syria to the SWIFT messaging system used by global banks for cross-border payments. The CBS is also planning a Syrian-Canadian banking symposium in July 2026 to deepen cooperation with Canadian financial institutions, Hosrieh said. ## Context and pound outlook The announcement comes as the Syrian pound continues to trade well above its prewar level against the US dollar (USD) on the parallel market. A functional CBS platform could, if widely used, narrow the gap between the official and parallel rates and give importers and remittance recipients a more predictable reference. Syria TV did not report a launch date for the platform or disclose the international partner under consideration. Officials also did not specify which corridors of the SWIFT network had already been re-enabled or what conditions remain for fuller reintegration.