The Assad regime fell in 2024… And in 2025, the United States and other countries began easing sanctions imposed on Syria, particularly those targeting the banking sector. However, banks remain paralyzed, and the cash-based economy limps along, relying on informal remittances and external aid.
Our new report explains why the partial lifting of sanctions has been insufficient to revive the banking system, and outlines the barriers to reconnecting it with the global financial network.
The report highlights the need to update banking laws and align them with FATF and Wolfsberg standards. It also calls for building public banking sector capacity with support from the World Bank and the International Monetary Fund. Until the sector recovers in the coming years, the report recommends exploring opportunities to attract investment and reconstruction financing through the World Bank and the United Nations, drawing on successful experiences from other countries.
Read the full report to know more.