Syria Set to Appoint German-National Central Bank Governor

Syria’s government is preparing to name Safwat Raslan, the director general of the Syrian Development Fund, as the new governor of the central bank, according to two banking sources who spoke to Reuters. He would succeed Abdel Qader al-Hasriyah, who was appointed just over a year ago.

Raslan left Syria for Germany during the war years, filed for asylum there, and later obtained German citizenship. He has prior banking experience but has not responded to requests for comment, nor has al-Hasriyah.

Banking Sector’s Global Reconnection

The leadership change comes as Syria’s banking sector works to re-establish ties with the global financial system. This effort follows the fall of Bashar al-Assad’s regime, which crushed 2011 protests and triggered a nearly 14-year civil war. During that conflict, Western nations imposed sweeping sanctions that isolated Syrian banks and the central bank from international finance.

Although most sanctions were lifted after Assad’s ouster, Syrian banks remain relatively cut off from the global financial system. This isolation hampers efforts to attract investments and funds needed to revive the economy and finance reconstruction projects.

Recent Central Bank History

President Ahmad al-Sharaa appointed al-Hasriyah as central bank governor in April 2025. During al-Hasriyah’s tenure, the bank executed its first international wire transfer via the SWIFT system since the war began and issued a new Syrian currency.

Raslan was appointed director general of the Syrian Development Fund in 2025. The fund was established after Assad’s fall to create a government mechanism for mobilizing financing for development and reconstruction projects in the country.