Khaberni - The Governor of the Central Bank of Syria, Abdel Qader al-Husriyya, said that the bank sent its first "SWIFT" message to the Federal Reserve Bank in New York on Thursday.
According to al-Husriyya, as reported by Reuters, "We sent a greeting (message) to all corresponding international banks. We started with the Federal Reserve... We tell them that we have returned to the international financial system, and we look forward to long-term business relationships."
Syria needs to make transfers with Western financial institutions to bring in large amounts for reconstruction and to stimulate the war-torn economy.
Lifting sanctions
This comes within the framework of lifting international sanctions on Syria, the most recent of which was the U.S. Treasury Department's extension this month of suspending the "Caesar Sanctions" law for 180 days, but the full lifting of these sanctions is contingent upon the approval of the U.S. Congress.
U.S. President Donald Trump has committed to doing everything in his power to support Syria following talks with Syrian President Ahmad al-Shar'a.
This month, Trump welcomed al-Shar'a in the first-ever visit by a Syrian president to the White House, six months after their first meeting in Saudi Arabia.
The U.S. Treasury promised to "continue easing sanctions" and announced a new decision, replacing its exemption issued on May 23, regarding the enforcement of the "Caesar Act" of 2019, which imposed broad sanctions due to human rights violations under Assad's regime. The decision extends the exemption for another 180 days.
