Talks in Frankfurt
The governor of the Central Bank of Syria, Safwat Raslan, disclosed that negotiations are under way with German financial and banking institutions to reactivate the central bank's accounts and resume banking relations between Syrian and European banks. The talks are taking place in Frankfurt, and some of the institutions had earlier sent delegations to Damascus.
Results Expected Soon
"We await the results of these talks soon," the governor said. He described the meetings as an effort to narrow differences and to answer questions raised by German banks about the state of the Syrian banking sector.
Compliance at the Center
Much of the discussion centers on compliance. The central bank has been presenting the steps it has taken in recent months to move closer to international standards, a condition for foreign banks to handle Syrian transactions. The aim, the governor said, is to bring the two sides' positions closer and address the questions European institutions have raised about the sector.
An Investment Conference
The meetings coincided with a conference in Frankfurt on investment prospects in Syria, hosted by a German finance school and attended by a Syrian delegation that included the central bank governor alongside foreign ministry and diplomatic officials. Organizers framed the gathering as an effort to open new avenues for economic cooperation.
Part of a Wider Push
In late October 2026, the governor held separate talks in Paris with European and international banks on reconnecting Syria to the European banking system. The Frankfurt and Paris tracks form part of a broader campaign to rebuild the correspondent relationships that let Syrian banks clear payments abroad.
Why It Matters
Restoring correspondent ties with European banks would ease the cross-border payments, trade finance, and remittances that have been constrained for years. No agreement has been announced, and the outcome will hinge on whether foreign institutions accept the compliance measures presented.