Central Bank of Syria

By: EconomyWatch   Date: 8 September 2010

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The Central Bank of Syria is the national central bank of Syria. The bank is an independent public sector establishment, which is operating under the guarantee of the state.

The bank is the only financial institution in the country, which is capable of managing monetary circulation. The bank in its endeavor to provide world-class services has following objectives to achieve:

  • To issue the national currency and control its circulation
  • To ensure the stability of the national currency
  • To act as the banker’s bank
  • To issue public debt instruments and participate in international financial dealing
  • Act as the country’s central bank advise the government in financial affairs
  • To hold and manage the country’s foreign exchange reserves
  • To prepare reliable and effective financial statistics

The Central Bank of Syria aware of the necessity of regulating and monitoring the financial system in the country works towards ensuring the stability, integrity and efficiency of the financial system to promote best possible macroeconomic performance. In order to realize its objectives the bank performs following functions:

  • Issue the national currency and exercise control on its circulation
  • Acting as the banker’s bank and providing necessary help to bank in carrying out their operations
  • Issuing national public debt instruments and participating in international financial negotiation
  • Ask banks to invest surplus funds in government securities
  • Acting as the banker of the state and advising the state on financial matters
  • Acting as the custodian and managing the foreign exchange reserves

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