In a pivotal step aimed at restructuring the country's financial and monetary system, the Governor of the Central Bank of Syria, Abdul Qader al-Hasriya, officially announced that January 1, 2026, will be the date set for launching the new Syrian currency, signaling the start of the process of replacing the currently circulating currency. This announcement culminates a series of economic measures implemented following the political transition and liberalization, with the goal of restoring economic stability and financial sovereignty.
Details of the presidential decree and legislative cover
The Central Bank of Syria clarified in an official statement issued today, Thursday, that this step is based on Presidential Decree No. 293 of 2025, which established the legal framework for the introduction of the new national currency. This decree grants the Central Bank full authority to manage the currency transition process, including setting timeframes for exchange operations and distributing designated centers across the various Syrian governorates to ensure smooth access to services for all citizens.
The governor stressed that executive instructions will be issued successively through official decisions, with the highest priority being to facilitate procedures and avoid any bureaucratic complications that may hinder the interests of citizens or affect commercial activity in the markets.
The economic context and the importance of monetary change
This move comes at a critical time for the Syrian economy, as the local currency has suffered for years from severe inflation and a loss of purchasing power due to conflicts and previous economic policies. Introducing a new currency is a standard economic measure that countries resort to in the aftermath of conflicts or major economic crises for several reasons:
- Curbing inflation: The new currency helps to reset the money supply in the market and control high inflation rates.
- Restoring confidence: Changing the currency represents a strong psychological and economic message to investors and citizens that a new era of financial stability is beginning.
- National sovereignty: As the governor pointed out, the new currency is a symbol of financial sovereignty after liberation, and a title for the stage of construction and advancement.
Replacement mechanism and transparency with the public
In an effort to bolster trust between the financial institution and the public, the Governor of the Central Bank of Syria emphasized that the currency replacement process would not be sudden or arbitrary. He announced plans for a comprehensive press conference to explain all technical and logistical details transparently, including the designs of the new banknotes, their security features, and the timeline for withdrawing the old currency from circulation.
To ensure full readiness for this national event, the Central Bank and its staff are working intensively, even during the official holidays (December 25-27), to finalize all technical and banking preparations. The bank reassured the public that all current banking transactions are proceeding as usual without any interruption or impact on services provided to citizens and investors until the official launch date.
