The Central Bank of Syria is poised to reconnect with the SWIFT international payment system within weeks, according to Governor Abd al-Qadir Hasuni.

This announcement comes after more than ten years of economic sanctions that have significantly impacted the country's financial infrastructure.

In an interview conducted in Damascus, Hasuni outlined a roadmap for restructuring the financial system and monetary policy aimed at reviving the war-torn economy.

The governor expressed optimism about attracting foreign investment and removing barriers to trade, emphasizing the importance of normalizing the currency and reforming the banking sector.

Hasuni noted that rejoining SWIFT is expected to bolster Syria's image as a financial center, particularly in light of anticipated foreign direct investment for reconstruction and infrastructure projects.

He stated, "While significant progress has been made, there remains much work ahead." The return to the SWIFT system is seen as a crucial step in promoting foreign trade, reducing import costs, and facilitating exports.

Additionally, it is expected to bring much-needed foreign currency into the country, enhance anti-money laundering efforts, and lessen reliance on informal financial networks for cross-border trade.

The strategy involves directing all foreign trade through the official banking sector, thereby eliminating the need for money changers who charge a commission of 40 cents per dollar entering Syria.

Hasuni revealed that local banks and the central bank have been granted SWIFT codes, and the final step entails resuming processing of transfers by correspondent banks.

He also mentioned that foreign investment would be further supported through guarantees put in place by the government.