Syrian President Ahmed al-Sharaa issued Decree No. 99 of 2026 appointing Mohammad Safwat Raslan as governor of the Central Bank of Syria.
The decree appointing Raslan, published by the Syrian Arab News Agency (SANA) on Friday, May 15, came after the Ministry of Foreign Affairs and Expatriates decided to appoint Abdulkader Husrieh as Syria’s ambassador to Canada, about a year after he was appointed governor of the Central Bank of Syria.
SANA quoted the Ministry of Foreign Affairs’ Media and Communications Department as saying that the decision to appoint Husrieh came “in appreciation of his efforts during his previous work within the Syrian government, and the contributions he made in supporting institutional work and enhancing performance in the files assigned to him.”
Reuters had reported, citing two sources in Syria’s banking sector, that the Syrian government was moving to appoint Safwat Raslan, director general of the Syrian Development Fund, as the new central bank governor, succeeding Abdulkader Husrieh.
The agency said Raslan fled Syria to Germany during the war, sought asylum, later obtained German citizenship, and is a former banker.
Who Is Safwat Raslan?
Mohammad Safwat Abdul Hamid Raslan was born in 1981. He holds a university degree in economics and accounting from the University of Aleppo, a diploma in strategic management from Lazarski University in Warsaw, and international professional certificates in project management.
He served as a credit business manager at Deutsche Apotheker und Ärztebank in Germany, worked as a consultant for EY and Capco, as a banking expert at TARGOBANK and Deutsche Bank, and as a branch manager at Byblos Bank Syria.
He has more than 20 years of experience in credit risk management, governance, and digital transformation. He is a former board member of several community organizations in Germany and has received multiple honors in recognition of his volunteer and charitable work in Germany.
His most recent position was director general of the Syrian Development Fund.
Banking Manager: Discontent Over Husrieh’s Decisions
A manager in the public banking sector told Enab Baladi, speaking on condition of anonymity, on Thursday, May 14, that a state of confusion prevails in decisions at the Central Bank of Syria related to banks, as several recent measures were taken:
- A decision was issued to extend the deadline for currency replacement until June 30, while restricting currency replacement to operating banks and excluding exchange companies and offices. This stirred anger and resentment among owners of these companies, especially the 26 offices and companies coming from northern Syria that had obtained preliminary licenses to operate inside Syria.
- The Syrian Ministry of Finance dismissed the director general of the Commercial Bank of Syria, Iyad Bilal, “at the proposal of the Central Bank of Syria,” froze his movable and immovable assets, referred him for investigation by the Central Agency for Financial Control, and placed him at the disposal of the finance minister. Enab Baladi tried to learn the reasons for the dismissal, whether from the Central Bank or the agency, but received no response, amid secrecy from both sides.
- A proposal was made to appoint Nasser Mawlawi, a private sector banker who previously worked at two private Islamic banks, Syria International Islamic Bank and al-Baraka Bank, as director general of the Commercial Bank.
- Less than 15 days after Mawlawi assumed the position of director general of the Commercial Bank of Syria, he was dismissed by the Syrian Ministry of Finance, also at the proposal of the same Central Bank, without clear reasons. The manager of Branch 6 at the Commercial Bank of Syria, Bilal Abdin, was assigned to the post.
What Are Northern Syria Companies?
A list issued by the Central Bank of Syria in August 2025 included the names of exchange and money transfer companies and offices in “areas that had been under the control of the revolutionary forces before the fall of the regime.” Their status was regularized under Central Bank Decision No. 199 L A in accordance with the laws and regulations in force for licensed exchange institutions registered in the registry held by the Government Commissionerate for Banks at the Central Bank.
These companies are: al-Ittihad, al-Amal, al-Andalus, al-Khawaja, al-Fatih, al-Mithaq, Okan, Osool, Tiger, Tima, Dar al-Mal, Doviz, Rhodium, Sultan, Syriana, Safi, Tayf, Gold Master, Qasioun, Qurtuba, Capital, Crypto Home, Mada, Masar, Money Out, and Yaqout Plus.
Granting preliminary licenses to these companies means they are now able to operate freely in all governorate markets, including Damascus and Aleppo, in accordance with the controls of the Central Bank of Syria and the laws and regulations governing the work of these companies, under the supervision of the Government Commissionerate for Banks at the Central Bank.
Who Is Abdulkader Husrieh?
Abdulkader Husrieh was born in Damascus in 1961. He received his academic education at the Faculty of Business Administration at the American University of Beirut, where he obtained bachelor’s and master’s degrees in business administration.
He also earned a doctorate in finance from Durham University in the United Kingdom, preparing his dissertation on the role of capital markets in housing finance.
Husrieh obtained a master’s degree in Common Law from Osgoode Hall Law School in Canada, where he researched developing regulations for digital currencies and assets. He also holds a law degree from Damascus University and a computer science degree from the Lebanese American University.
He also completed several specialized executive programs, including a program on tax policy and tax administration at Harvard Kennedy School, a housing finance and capital market development program at the Wharton School of the University of Pennsylvania in the United States, and a real estate finance program at the Massachusetts Institute of Technology.
In addition to his long experience in financial consulting and auditing, Husrieh has extensive experience in banking and regulatory frameworks in Syria and the Middle East. He played a prominent role in drafting banking laws in Syria, including the Islamic Banking Law, the Exchange Companies Law, the Financial Leasing Law, and the Central Bank of Syria Law.
He also contributed to developing the real estate finance model and related legislation, organizing the real estate appraisers’ profession, and applying International Financial Reporting Standards in the banking and corporate sectors.
He then participated in drafting the regulations of the Syrian Commission on Financial Markets and Securities and the Damascus Securities Exchange.
In cooperation with the World Bank, he also contributed to drafting the Public Private Partnership Law, alongside the institutional framework for this partnership.
He also provided consulting for reforming the Central Bank of Syria in cooperation with the United Nations Development Programme (UNDP), working to develop regulatory frameworks for the banking sector and enhance the efficiency of monetary policies.
He also served on several boards of directors, including the Real Estate Finance Authority, the General Organization for Social Insurance, the General Housing Establishment, and the Real Estate Investment and Development Authority.
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