Qatar Fund and Islamic Development Bank host meeting on Syria financial reform

The Qatar Fund for Development and the Islamic Development Bank organized a high-level roundtable meeting at the United Nations headquarters in New York to discuss the transformation and recovery of Syria’s financial sector. The meeting, titled ‘Investing in Syria’s Recovery: Coordinating Support for Financial Sector Transformation,’ aimed to coordinate international support for economic reconstruction and financial reform.

Participants included the Syrian Minister of Finance, Mohammed Yusr Barnia, the Governor of the Central Bank of Syria, and representatives from the U.S. Treasury, international financial institutions, and various development partners. Discussions focused on key reform areas such as enhancing public financial management, reforming the banking sector, revitalizing capital markets and the insurance sector, and strengthening financial integrity.

A roadmap and assessment of financial sector gaps were presented, prepared by the Qatar Fund for Development in collaboration with Syrian authorities and technical support from Oliver Wyman. The discussions emphasized transitioning from assessment to implementation, focusing on institutional reform, state-owned bank restructuring, and the reintegration of Syria into the international financial system. Minister Barnia stated that Syria is committed to a transparent and reliable financial system and is not seeking dependency on foreign aid, but rather organized international partnerships aligned with national priorities.