Syria has introduced new banknotes, eliminating zeros and portraits in a move to strengthen national identity and restore confidence in the economy.
The launch ceremony took place at Damascus’ Conference Palace with President Ahmad al-Sharaa, his wife Latifa al-Droubi, and Central Bank Governor Abdul Qader Husariya in attendance. The reform marks the start of a comprehensive monetary transition aimed at boosting confidence in Syria’s financial system.
Consultant Abdulah Al-Shamma said Syrian experts collaborated with Central Bank staff to develop the strategy based on global best practices. The reform is built on five pillars: monetary policy and price stability, a balanced and transparent foreign exchange market, a sound banking sector, secure digital payments, and international financial integration.
President Sharaa described the initiative as ending a previous era and beginning a new stage for Syria. He emphasized that removing zeros simplifies transactions but real economic improvement relies on increasing production, reducing unemployment, and strengthening banks, which he called the “veins of the economy.”
The new banknotes feature symbolic elements tied to Syrian history and culture, moving away from glorifying individuals. Laser displays at the Central Bank showcased the redesigned notes, which aim to revive the country’s historical memory.
The old currency, which included images of former leaders Bashar and Hafez al-Assad, remains in circulation. With the dollar trading at roughly 11,000 Syrian pounds, many residents complained about weak purchasing power requiring them to carry large bundles of cash.
Israel's defence minister said on Wednesday Israeli troops will not withdraw from southern Lebanon, highlighting a hurdle to Iran-U.S. peace talks, as...
Israel and Lebanon are discussing a U.S.-backed proposal that would see Israeli forces withdraw from parts of southern Lebanon and transfer control of...
The head of the United Nations nuclear watchdog has said inspections in Iran will resume in the near future following an interim peace agreement betwe...
Pakistan and Russia have agreed to deepen counterterrorism cooperation amid continuing concerns over militant threats emanating from Afghanistan, unde...
Andy Burnham's path to Downing Street appeared to become clearer on Wednesday after another potential challenger ruled himself out of the Labour leade...
A United Nations official has warned that efforts to stabilise southern Syria remain stalled nearly a year after deadly sectarian violence in Sweida province, with tensions between Druze factions, Bedouin communities and state authorities still unresolved.
ISIS has claimed responsibility for killing two Syrian soldiers in the northern provine of Aleppo, in a statement on the group's Telegram channel.
Türkiye and Saudi Arabia are aiming to establish a railway connection linking the two countries through Syria and Jordan within the next three to four years, according to Turkish Transport Minister Abdulkadir Uraloğlu.
Türkiye and Syria plan to increase annual bilateral trade to $5 billion within the next two years, officials from both countries said on Tuesday, as they seek to deepen economic ties and support Syria's recovery.
Tehran has agreed to let the International Atomic Energy Agency (IAEA) recommence inspections of its nuclear programme, U.S. Vice President JD Vance has said. The U.S. and Iran have settled on a 60-day roadmap aimed at reaching a final deal, according to mediators Qatar and Pakistan.
A Ukrainian strike has damaged a school building in a Russian-controlled area of Ukraine’s Zaporizhzhia region, according to local authorities cited by the TASS news agency. No injuries were reported in the incident.
Israel's defence minister said on Wednesday Israeli troops will not withdraw from southern Lebanon, highlighting a hurdle to Iran-U.S. peace talks, as the top U.S. diplomat tours the Middle East to win over allies sceptical about a proposed deal.
U.S. President Donald Trump said that Iran had agreed to nuclear inspections into "infinity, despite Tehran's denials, and that unfrozen Iranian assets would be used to buy humanitarian supplies from the United States.
Authorities in France are reporting that about 20 people have died over the weekend while swimming in unsupervised areas of rivers, lakes and coastal waters as they tried to escape the heatwave.
The head of the United Nations nuclear watchdog has said inspections in Iran will resume in the near future following an interim peace agreement between Tehran and Washington. However, Iranian officials insist access to key facilities remains contingent on a final deal and the lifting of sanctions.
Pakistan and Russia have agreed to deepen counterterrorism cooperation amid continuing concerns over militant threats emanating from Afghanistan, underlining growing alignment between the two countries on regional security.
Andy Burnham's path to Downing Street appeared to become clearer on Wednesday after another potential challenger ruled himself out of the Labour leadership race.
Karim Khan, chief prosecutor of the International Criminal Court (ICC), faces possible removal from office after a key oversight body concluded he engaged in serious misconduct involving a junior staff member.
France has confirmed its first Ebola case linked to the current outbreak in the Democratic Republic of Congo after a doctor returning from a humanitarian mission tested positive for the virus, the health ministry said on Wednesday (24 June).
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment