Subjects – Syria Report

Central Bank of Syria


The Autonomous Administration of North and East Syria is drafting a law to establish an independent monetary policy and financial institution, which would be akin to a central bank, in an apparent move to consolidate its autonomy drive. It also recently re-opened a cotton spinning and weaving factory, previously owned by the Syrian government, in a bid to boost self-sufficiency in a key sector of its economy.
For the third time in its history, the Ministry of Finance has announced that it will issue a set of treasury bonds worth billions next year through four auctions in the hopes that it will raise funds that could be used to finance the government's spending activities, meet the budget deficit, or invest in projects, among other things.
A recent report examines the many challenges faced by independent Syrian businessmen who remained in the country following the 2011 conflict, as well as the complications they may face if they choose to leave the country to launch their ventures in one of the few accessible markets in the region. 


This factsheet will shed light on the economic relations between Syria and the UAE prior to 2011 and will trace the evolution of the bilateral relationship during the first half of the Syrian conflict. It will also focus on the path towards normalisation that has taken place in recent years, providing an overview of the business and economic ties since 2018 and covering the political and diplomatic developments that have taken place in the past six months.


The Loan Risks Guarantee Corporation (LRGC) is a "not-for-profit" which provides guarantees for loans to SMEs and microfinance projects.

ITAS Group is a group of six companies mainly active in the IT sector.