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Syria · Country watch

Syrian-UAE Banking Pact, Al-Sharaa's Saudi Visit

Syria and UAE sign a banking reform pact; President Al-Sharaa's visit to Saudi Arabia strengthens economic ties.

· · 3 sources

The picture Improving

Syria's banking sector sees reform with a new UAE pact, and President Al-Sharaa's Saudi visit strengthens economic ties, suggesting a positive shift.

In this briefing Safwat Raslan · Khaled Mohamed Balama · Central Bank of Syria · Central Bank of the UAE · Ministry of Foreign Affairs and Expatriates (Syria) · Ahmed al-Sharaa · Mohammed bin Salman

Regulation

  • finance
  • technology

Syria and UAE Sign Banking Reform Pact

high-angle photography of beige concrete building
Aladdin Hammami / Unsplash

Syria and the UAE signed a memorandum of understanding to enhance cooperation in financial, regulatory, and technological fields. The agreement was signed by Safwat Raslan, Governor of the Central Bank of Syria, and Khaled Mohamed Balama, Governor of the Central Bank of the UAE, Al-Watan reports. The pact covers payment systems, monetary policies, financial technologies, sustainable finance, financial inclusion, and consumer protection. Financial analyst Abdulhamid Qatlan noted the UAE's banking system is among the most advanced globally. This agreement aims to reform and integrate Syria's banking sector.

Impact Syrian banks and financial institutions will adapt to new regulatory and technological standards, potentially increasing efficiency and international integration.

Sources: Al-Watan الوطن ↗

  • public-sector

Syria Launches Criminal Record Service Abroad

The Syrian Ministry of Foreign Affairs and Expatriates announced a new service allowing Syrians abroad to obtain criminal record certificates, Enab Baladi reports. This service aims to facilitate administrative processes for Syrians living outside the country, potentially aiding in employment and legal matters. The initiative reflects Syria's efforts to improve services for its expatriate community.

Impact Syrians abroad can now access criminal record certificates more easily, aiding in employment and legal procedures.

Sources: Enab Baladi English ↗

Disruption

Nothing significant reported today.

Internal tension

Nothing significant reported today.

Safety & health

Nothing significant reported today.

Companies

Nothing significant reported today.

Markets

Nothing significant reported today.

Trade

Nothing significant reported today.

Politics

  • public-sector
  • construction

Al-Sharaa Meets Saudi Crown Prince in Riyadh

Syrian President Ahmed al-Sharaa met with Saudi Crown Prince Mohammed bin Salman in Riyadh to discuss strengthening bilateral ties, Enab Baladi reports. The meeting focused on economic cooperation, with particular attention to investment opportunities in Syria's reconstruction efforts. This visit marks a significant step in Syria's reintegration into the regional economy, as Gulf investments are expected to play a crucial role in rebuilding Syrian infrastructure.

Impact Syrian construction and public-sector projects may see increased funding and collaboration from Gulf investors, accelerating reconstruction efforts.

Sources: Enab Baladi English ↗

Also today in Syria

Sources in this briefing

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