Central Bank of Syria’s New Governor: We Have Enough Funds for a 400% Salary Increase
The Central Bank of Syria’s new governor, Maysaa Sabrin, has announced that the bank possesses sufficient reserves to cover a dramatic 400% increase in salaries. In her first interview with Reuters since assuming her role, Sabrin expressed her intent to bolster the bank’s autonomy in monetary policy decisions, signaling a significant shift from the state’s tight control during Assad’s regime.
Sabrin highlighted, “The bank is working on drafting amendments to its law to enhance its independence, including granting it more freedom in making monetary policy decisions.”
She reassured that the Central Bank of Syria has enough money in its vaults to finance this substantial salary hike. However, she emphasized the bank’s commitment to avoiding the need to print more Syrian pounds, which could lead to inflation.
Additionally, Sabrin mentioned that the Central Bank is exploring ways to expand Islamic banking services, reflecting an adaptive approach to financial services in Syria.
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