Syrian finance officials meet U.S. Treasury in New York to discuss financial reforms

Syrian Finance Minister Mohammad Yusr Barnia participated in a roundtable workshop in New York organized by the U.S. Department of the Treasury. The meeting brought together the Syrian Ministry of Finance, the Central Bank of Syria, and major American financial institutions to discuss supporting the reform of Syria’s financial sector and its reconnection to the global financial system.

The discussions followed a gap assessment report prepared by Oliver Wyman, with support from the U.S. Treasury and the Qatar Fund for Development. The workshop aimed to showcase Syria’s progress in financial reforms and facilitate cooperation in key areas, including public financial management, state-owned bank reform, capital markets, insurance, and enhancing financial integrity.

Minister Barnia emphasized the importance of improving standards for combating money laundering and terrorist financing. He noted a shift in the economic and financial relationship between Syria and the United States toward a path of partnership and coordination, following Washington's removal of Syria from certain defense trade restriction lists. Barnia extended an open invitation to the participants to visit Damascus for a future banking roundtable.