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.
Hong Kong and Shanghai will sign a memorandum of understanding next week to establish a cross-border gold trade clearing system, a move aimed at boost...
Portugal is holding presidential elections with a record 11 candidates, as populist leader André Ventura emerges as a possible front-runner....
Two people were killed and dozens injured in overnight Russian drone attacks across Ukraine, as strikes on energy infrastructure left many regions wit...
Iran’s state broadcaster was briefly hijacked on Sunday, airing footage of anti-regime protests and a message from exiled crown prince Reza Pahlavi,...
Five skiers were killed in a pair of avalanches in Austria’s western Alpine regions on Saturday, with two others injured, one critically....
A new agreement between Damascus and the Kurdish-led Syrian Democratic Forces is set to reshape power arrangements in northeastern Syria.
Syrian President Ahmed al-Sharaa has signed a decree recognising Kurdish language rights, as government forces advanced against U.S.-backed Kurdish-led fighters despite U.S. calls for restraint.
The Turkish Defence Ministry has voiced its support for recent military operations by Syrian government forces against the Kurdish-led Syrian Democratic Forces (SDF), which enjoy the support of the United States.
The U.S. military said it carried out multiple airstrikes across Syria early on Saturday (10 January) as part of an operation that began last month, after it said Islamic State militants killed two U.S. soldiers and a civilian interpreter in an attack on 13 December.
Italian Prime Minister Giorgia Meloni said on Saturday (17 January) that concerns over security in Greenland should be addressed within the framework of NATO, describing a ground military intervention as highly unlikely.
Ashley St. Clair, mother of one of Elon Musk’s children, has filed a lawsuit against Musk’s company xAI, alleging that its AI tool Grok generated explicit images of her, including one portraying her as underage.
Egypt and Sudan have welcomed an offer by U.S. President Donald Trump to restart mediation with Ethiopia in a bid to resolve the long-running dispute over Nile River water sharing.
Elon Musk is seeking up to $134 billion from OpenAI and Microsoft, arguing that the companies profited unfairly from his early support of the artificial intelligence firm, according to a court filing made public on Friday.
Poland plans to expand its armed forces to 500,000 by 2039, including 300,000 active-duty troops and 200,000 reservists, officials said Friday. The enlarged force would feature a new high-readiness reserve unit.
Portugal is holding presidential elections with a record 11 candidates, as populist leader André Ventura emerges as a possible front-runner.
Two people were killed and dozens injured in overnight Russian drone attacks across Ukraine, as strikes on energy infrastructure left many regions without power amid freezing temperatures, President Volodymyr Zelenskyy said.
Iran’s state broadcaster was briefly hijacked on Sunday, airing footage of anti-regime protests and a message from exiled crown prince Reza Pahlavi, according to opposition-linked outlets.
Ugandan authorities partially restored internet services after President Yoweri Museveni won a seventh term, extending his rule into a fifth decade.
At least five people have died and dozens were injured after two high-speed trains derailed on Sunday near Adamuz, southern Spain, railway operator ADIF and state media reported.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment