Syria is officially back on SWIFT: the Syrian Central Bank governor sent the first SWIFT letter to New York Federal Reserve
The governor of the Central Bank of Syria, Abdul Qadir Hosriya, announced that the bank on Thursday sent its first SWIFT letter to the Federal Reserve Bank of New York.
“We’ve sent a welcome message to all our international correspondence banks… We started with the Federal Reserve, and we tell them that we are back in the international financial system, and we look forward to long-term trade relations”.
Syria needs to make remittances with Western financial institutions to bring in huge sums for reconstruction and revival the war-torn economy.
In June, it was announced that Syria had made its first international banking transaction through the SWIFT system since the outbreak of the 14-year war, in a move that represents an important achievement in Syria’s efforts to reintegrate into the global financial system.
He stated at the time that a direct business transaction had been made from a Syrian bank to an Italian bank.
