Syria’s Central Bank Governor Resigns Amid Political Uncertainty
By Kardo Roj
DAMASCUS, Syria (North Press) – Mayassa Sabreen, the Governor of the Central Bank of Syria, resigned from her post on Thursday without providing specific reasons for her departure, according to an official statement. The resignation comes amid ongoing political shifts in Syria following the collapse of Bashar al-Assad’s government.
Sabreen, appointed in late 2024 as the first woman to head Syria’s top financial institution, held the position for less than three months before stepping down. Her appointment was part of broader efforts by the newly formed transitional government to stabilize the country’s economic institutions after years of mismanagement, sanctions, and war-related disruptions.
Sabreen’s resignation raises concerns over the stability of Syria’s financial sector as the country struggles with economic collapse, currency depreciation, and international sanctions. A Syrian government official, speaking to Reuters on condition of anonymity, confirmed that a replacement will be announced soon, likely after the completion of the new government’s formation in the coming days.
Unconfirmed reports circulating in Syrian media suggest that Abdul Qader Hasriyeh, a financial expert with prior experience in economic policy, may be appointed as Sabreen’s successor. However, no official announcement has been made.
The resignation comes at a critical time for Syria’s economy, which remains in deep crisis following years of war, corruption, and foreign sanctions. The fall of the Assad regime in late 2024 marked a significant turning point, with the transitional government attempting to restore economic stability amid a highly fragmented political landscape.
The Syrian pound has faced extreme devaluation over the past decade, exacerbated by war-related destruction, the loss of key revenue sources, and systemic corruption. With the economy heavily reliant on external support, particularly from Russia and Iran in previous years, the new government faces mounting pressure to implement reforms and attract international investment.
Additionally, the role of the Autonomous Administration of North and East Syria (AANES) has grown increasingly significant in regional economic affairs. The AANES controls key oil-rich territories and agricultural hubs, making it a crucial actor in any future economic restructuring. The region’s governance model, backed by the Syrian Democratic Forces (SDF), has been recognized for its relative stability and economic resilience compared to government-controlled areas.
Sabreen’s departure underscores the broader uncertainty surrounding Syria’s transitional phase. The financial sector, deeply intertwined with political power struggles, remains highly volatile as new leadership structures take shape. The lack of transparency in financial decision-making and the absence of long-term economic policies continue to pose significant challenges.
Moreover, the delay in forming a stable government raises questions about Syria’s ability to regain economic credibility. International stakeholders, including Western nations and regional actors, are closely monitoring the situation to assess potential engagement in economic recovery efforts. However, without clear financial leadership, efforts to stabilize Syria’s economy may face further setbacks.
The coming days will be crucial for Syria’s financial landscape as the government works to appoint a new Central Bank governor. Economic analysts suggest that the choice of leadership will signal the direction of Syria’s monetary policies, particularly concerning currency stabilization and financial regulations.
Meanwhile, the AANES and SDF continue to play a pivotal role in maintaining regional stability, particularly in the northeast, where economic initiatives have focused on self-sufficiency and local governance. As Syria’s central government navigates this turbulent transition, the future of the country’s financial recovery remains uncertain.