Central Bank Launches French Project
The Central Bank of Syria said on 7 October 2026 that it had begun work on a project to support and strengthen its institutional and technical capacities, carried out with a French technical mission. The initiative, known by the acronym CAPCBoS, aims to raise the efficiency of the bank's supervisory and monetary tools and to draw on international expertise in modernizing the country's banking and monetary sector.
The bank said the mission's work opened in the presence of its governor, Safwat Raslan, and the French ambassador in Damascus.
Two Reform Tracks
The project is organized around two main tracks. The first centers on developing risk-based banking supervision, a framework that calibrates oversight according to the risks that individual institutions carry.
The second focuses on strengthening the bank's capabilities in monetary policy, economic analysis, liquidity management, and the interbank market, core functions for steering credit and the supply of money in the economy.
French Institutions Involved
Taking part in the mission are representatives of the French General Treasury Directorate, the Banque de France, the French Development Agency, and the public agency Expertise France.
The bank said the mission includes a series of technical meetings with its directorates and the relevant departments to identify priorities and needs and to agree on practical steps for cooperation and the transfer of expertise, complementing technical-support programs offered by international partners.
Building on Restored Ties
The project follows a step announced on 7 July 2026, when the bank said it had reactivated its banking relationship with the Banque de France by reopening the Syrian central bank's account there.
That move was presented as a way to provide an environment for financial and technical cooperation between the two countries' central banks, after years in which Syria's monetary authority operated largely cut off from international partners.