Strategy Launched in Damascus
Syria's Anti-Money Laundering and Terrorism Financing Authority, working with the United Nations Development Programme, unveiled a National Strategy to Combat Money Laundering, Terrorism Financing, and Weapons Proliferation at a ceremony in Damascus on 21 July 2026. The event drew ministers from across the government alongside national and international stakeholders.
Present were the ministers of interior, justice, finance, economy, and communications, signaling that the plan is intended as a whole-of-government effort rather than the work of a single agency.
Path Off the Gray List
Central Bank Governor Safwat Raslan, who heads the anti-money-laundering authority, said the strategy represents "unifying national efforts" rather than merely drafting a document. He tied it directly to Syria's goal of exiting the Financial Action Task Force gray list, the international designation that has constrained the country's access to correspondent banking.
Removal from that list is a prerequisite for restoring the banking relationships that channel trade payments and remittances, both of which shape demand for the Syrian pound (SYP) against the US dollar (USD).
An Independent Intelligence Unit
The authority functions as Syria's independent financial intelligence unit, receiving and analyzing reports of suspicious transactions and coordinating with partners at home and abroad. The strategy aims to strengthen that system and tighten coordination among the institutions responsible for detecting financial crime.
The plan rests on integrating the roles of regulatory, judicial, security, and banking bodies to improve the state's ability to track and curb suspect financial flows.
Roles Across Government
The justice minister described combating financial crime as essential to the rule of law and to shielding the economy from illicit activity. The interior minister outlined his ministry's investigative role in detecting such crimes and dismantling criminal networks.
A representative of the United Nations Development Programme said the strategy addresses the aftermath of Syria's financial isolation and seeks to build transparent systems capable of restoring both domestic and international confidence.
Why It Matters
For a currency that has lost ground over the past month, the credibility of Syria's financial plumbing carries weight. A recognized anti-money-laundering regime is one of the conditions foreign banks weigh before reopening dollar-clearing channels, making the framework a step in a longer process rather than an immediate change.