Central Bank of Syria
The Central Bank of Syria (CBS; Arabic: مصرف سورية المركزي, romanized: Masrif Suriat Almarkazi) is the central bank of Syria. The bank was established in 1953 and started operations in 1956. Its headquarters are in Damascus, with 11 branches in the provincial capitals. The objective of the bank is "to foster the stability, integrity and efficiency of the nation’s financial and payment systems so as to promote optimal macro economic performance".
Central Bank of Syria on the Sabaa Bahrat Square in Damascus | |
| Headquarters | Damascus, Syria |
|---|---|
| Established | 28 March 1953 (legal) 1 August 1956 (began operations) |
| Ownership | 100% state ownership |
| Governor | Mohammed Issam Hazima |
| Central bank of | Syria |
| Currency | Syrian pound SYP (ISO 4217) |
| Bank rate | 0% |
| Interest on reserves | 6.00% |
| Preceded by | Banque de Syrie et du Liban (until 1953) |
| Website | https://www.cb.gov.sy/ |
The CBS issues Syria's currency, the Syrian pound (LS), and sets the intervention price in the foreign currency market for the Syrian pound on a daily basis. The CBS exercises control over all banks operating in Syria.
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