Syria has officially begun trading its newly issued banknotes, marking a significant step in the country’s monetary and financial administration, the Central Bank of Syria announced on Saturday.

First Vice Governor of the Central Bank of Syria, Mokhles al-Nazer, confirmed that the new Syrian pound has entered circulation following months of sustained technical and administrative preparations. In a statement published on the X platform, al-Nazer said that representatives of private banks and licensed exchange companies began arriving at Central Bank branches across the provinces early Saturday morning to receive the new banknotes.

“Since early morning, representatives of private banks and exchange companies have been flocking to the Central Bank branches in the provinces to receive the new Syrian pound,” al-Nazer stated, describing the process as proceeding smoothly and in line with established plans.

On Friday, the Central Bank of Syria issued a formal notice calling on all financial institutions, businesses, and citizens to strictly adhere to instructions related to the handling and circulation of the new currency. The bank stressed the importance of preserving the integrity, quality, and appearance of Syrian banknotes, emphasizing that the national currency constitutes public funds and serves as a key symbol of national sovereignty.

The launch of the new currency follows an official ceremony held last Monday at the Conferences’ Palace in Damascus, where President Ahmad al-Sharaa unveiled the redesigned banknotes. The event underscored the government’s stated aim of reinforcing monetary stability and strengthening confidence in the national currency.

Officials noted that the introduction of the new banknotes will continue in stages, with coordination between the Central Bank, private banks, and exchange companies to ensure an orderly transition and uninterrupted financial transactions throughout the country. (ILKHA)