Syria's Central Bank Vaults: Unshaken Amidst Turmoil

Despite the upheaval in Damascus following Assad's fall, Syria's central bank vaults remained intact, with stolen funds limited to smaller amounts. The vaults' contents were reportedly transferred to the new government. Stability in bank operations has resumed, though overall reserve amounts remain unclear.


Devdiscourse News Desk | Updated: 10-12-2024 23:22 IST | Created: 10-12-2024 23:22 IST
Syria's Central Bank Vaults: Unshaken Amidst Turmoil

In a dramatic turn of events in Syria, the central bank vaults in Damascus emerged untouched by looters, following the shocking overthrow of President Bashar al-Assad.

According to Bassel Hamawi from the Damascus Chambers of Commerce, though some money was stolen, the main vault's contents remained intact—signifying a crucial step in maintaining financial stability amidst political upheaval.

Bank employees resumed their duties under heavy security, though the exact amount of reserves remains unknown, with estimates pre-dating Syria's civil conflict at $18.5 billion.

(With inputs from agencies.)

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