Syria’s Central Bank Seeks Revival: New Governor Aims for Independence and Stability

Syria’s new central bank governor, Maysaa Sabreen, aims to boost the bank’s independence to steer monetary policy free from government control. Facing inflation and currency devaluation, Sabreen plans to expand Islamic banking and restructure state banks while navigating economic sanctions and financial sector challenges.

Maysaa Sabreen, the newly appointed central bank governor of Syria, is setting her sights on achieving greater autonomy in monetary policy—a significant departure from previous governmental control exercises under the Assad regime.

Sabreen, formerly second in command at the bank, stepped up following an unexpected regime change in December. Her promotion marks a unique case of continuity amid upheaval, as she navigates the balance between financial independence and lingering political challenges.

With economic stability as her primary objective, Sabreen is exploring legislative changes to solidify the bank's independence and expand the reach of Islamic banking to untapped demographics. Facing a devalued currency and high inflation, she highlights the importance of avoiding currency printing and enhancing banking regulations.

(With inputs from agencies.)