Turkey and Syria central banks sign Turkish lira deposit agreement

The Central Bank of the Republic of Turkey (TCMB) and the Central Bank of Syria signed a protocol to open a Turkish lira deposit account for the Syrian central bank. The agreement was signed by TCMB Governor Dr. Fatih Karahan and Syrian Central Bank Governor Mohammad Safwat Raslan.

The account is intended to facilitate bilateral trade, lower transaction costs and support regional financial integration by allowing the use of the Turkish lira in cross‑border transactions. Technical procedures are being completed before the account becomes operational, aiming for more transparent and rapid capital flows between the two countries.