US, Syria Discuss Financial Reconnection in New York

The US Department of the Treasury hosted a banking roundtable in New York City, bringing together Syrian financial leaders, American financial institutions and payment service providers to discuss steps toward reconnecting Syria to the global financial system. The Treasury said the meeting, held on October 1, included a full day of discussions between the two sides.

Participants

The meeting included, from the American side, Assistant Secretary of the Treasury for Terrorist Financing and Financial Crimes Jonathan Burke, and from the Syrian side, Finance Minister Mohammed Yasser Barniyeh and Central Bank of Syria Governor Safwat Roslan. US Special Presidential Envoy to Syria and Iraq Tom Barrack delivered virtual remarks at the session.

Discussion Topics

According to the Treasury statement, representatives of American financial institutions and payment service providers gained a deeper understanding of Syria's current anti-money laundering and counter-terrorist financing landscape during the meeting. Discussions covered the following areas:

• Combating illicit finance
• Strengthening reforms in Syria's financial sector
• Rebuilding trust between Syrian and American financial institutions
• Steps toward reconnecting Syria to the global financial system

Officials' Statements

Special Envoy Tom Barrack said in a post on X that financial reconnection represents a key step to help turn Syria's recovery opportunity into durable prosperity. Assistant Secretary Jonathan Burke said financial interconnection is necessary to combat illicit finance effectively and support Syria's reintegration into the global financial system, adding that the Treasury would continue working closely with its Syrian counterparts to implement key reforms.

Syrian Finance Minister Mohammed Yasser Barniyeh said in a post on X that the meeting focused on strengthening cooperation between the US Treasury, the Syrian Ministry of Finance and the Central Bank of Syria on areas of shared interest, noting that the main goal is to support financial sector reforms in Syria and reconnect it with the global financial system.

Context

The meeting follows US President Donald Trump's decision to lift nearly all sanctions on Syria, a decision that opens the door to practical steps toward reconnecting Syria's banking sector with international financial institutions.