# Turkey‑Syria central bank deposit pact

> Live situation record from CLSTR: https://clstr.news/situations/turkeysyria-central-bank-deposit-pact
> Updated: 2026-08-03T18:31:44.000Z. Sources: 9. Developments: 2.

In late July 2026, the Central Bank of the Republic of Turkey and the Central Bank of Syria signed a protocol to open a Turkish lira deposit account for the Syrian central bank, aiming to ease bilateral trade and lower transaction costs. Technical steps were still being finalised to make the account operational.

A few days later, Turkey’s central bank governor Fatih Karahan travelled to Damascus, where he and his Syrian counterpart formalised reciprocal deposit accounts and signed cooperation agreements to support Syrian monetary operations. Karahan then attended an economic forum in Erzurum, Turkey, where officials and academics discussed the regional impact of the new arrangements, monetary policy and inflation, signalling broader financial and economic engagement beyond the initial deposit agreement.

## Timeline

### 2026-08-03: Turkey Central Bank Governor Fatih Karahan Secures Syria Deposit Pact and Holds Erzurum Economic Forum

Turkey’s central bank governor Fatih Karahan signed a mutual deposit agreement with Syria’s central bank in Damascus and later led an economic forum in Erzurum with business and academic leaders to discuss the

4 sources. https://clstr.news/cluster/turkey-central-bank-governor-fatih-karahan-secures-syria-deposit-pact-and-holds-erzurum-economic-for

### 2026-07-29: Turkey and Syria central banks sign Turkish lira deposit agreement

Turkey's and Syria's central banks signed a protocol, overseen by Fatih Karahan and Mohammad Safwat Raslan, to open a Turkish lira deposit account for Syria, aiming to boost trade and regional financial ties.

6 sources. https://clstr.news/cluster/turkey-and-syria-central-banks-sign-turkish-lira-deposit-agreement

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Cite as: Turkey‑Syria central bank deposit pact. CLSTR, https://clstr.news/situations/turkeysyria-central-bank-deposit-pact