The Syrian Future Movement welcomes the decision announced by the Australian government to lift sanctions on the entire Syrian financial sector. This decision was also welcomed by the Governor of the Central Bank of Syria, Dr. Abdul Qader al-Hasri, on December 18, 2025, who described it as a significant turning point in restoring Syria’s international financial integration.
The Syrian Future Movement views this decision, which includes allowing Syrian banks to establish correspondent banking relationships with their Australian counterparts, open representative offices, and remove the Commercial Bank of Syria from sanctions lists, as a positive step in the context of the sensitive transitional phase Syria is undergoing. It contributes to breaking some of the financial isolation imposed by long-standing sanctions, paves the way for improved financial transfers, facilitates trade, and supports economic reconstruction efforts.
However, based on its economic vision of transparency and efficiency, the Syrian Future Movement believes that this step—despite its importance—remains limited in its direct impact due to the historically small volume of trade and financial exchange between Syria and Australia. The true benefit of this decision lies in its being a positive political and economic signal that may encourage other countries with greater economic weight to take similar steps, thus strengthening the international momentum toward broader and more impactful sanctions relief.
At the same time, the Syrian Future Movement warns against relying on external relief as a substitute for fundamental internal reforms.
We emphasize that restoring international confidence in the Syrian financial system will only be achieved through a comprehensive reform program that includes:
- Enhancing banking transparency and combating corruption and money laundering in accordance with international standards (FATF).
- Restructuring public banks and strengthening the independence of the Central Bank.
- Developing a modern digital financial infrastructure that supports financial inclusion and attracts investment.
- Ensuring good governance that transforms the financial sector into a genuine engine of sustainable growth, rather than a conduit for past rent-seeking.
The Syrian Future Movement sees this decision as an opportunity to accelerate internal economic reforms, not merely waiting for positive external signals. The new Syria needs an open, competitive economy, integrated into the global financial system, based on the principles of free markets and transparency, not on privileges or dependency.
The Syrian Future Movement calls on the transitional government and the central bank to capitalize on this positive moment by developing a clear timeline for financial reform, in partnership with civil society and the private sector, to ensure that future relief measures are based on genuine domestic achievements, not on temporary political considerations.
