Syria banking and payments

Syria–US banking talks in New York: correspondent banking and payment channels

A Central Bank of Syria delegation led by Governor Safwat Raslan took part in a US Treasury roundtable in New York and met JPMorgan representatives on restoring correspondent banking and payment channels. No concrete measure was announced.

Treasury readout: 1 Oct 2026JPMorgan meeting (SANA)No measure announced

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Published 2026-10-05 · Midtrans Shipping And Services

Reviewed by Khaldoun Al-Khouli, General Manager

Treasury roundtable

Syria's finance minister and central bank governor met US Treasury officials and US financial institutions.

JPMorgan and the gap report

The delegation met JPMorgan and reviewed a gap assessment prepared by Oliver Wyman.

What was not announced

No correspondent account, bank or date was announced.

What it means for shippers

Payment channels do not change today; we confirm payment arrangements with each quote.

US Treasury

A roundtable on Syria's banking sector in New York

The US Department of the Treasury published a readout on 1 October 2026 of a Syrian banking roundtable it co-hosted in New York. According to the readout, Assistant Secretary for Terrorist Financing and Financial Crimes Jonathan Burke met Syria's Minister of Finance Yisr Barnieh and Central Bank of Syria Governor Safwat Raslan, together with representatives of US financial institutions and payment service providers. US Presidential Envoy to Syria Tom Barrack gave remarks by video.

The readout says the discussion covered anti-money laundering and countering the financing of terrorism in Syria, the main gaps identified by an independent third-party assessment, and the Syrian government's work to address them.

Readout dated 1 October 2026
Held in New York
Focus: AML/CFT gaps

Central Bank of Syria

Meeting with JPMorgan on payment channels

The Syrian news agency SANA reported on 2 October 2026 that the central bank delegation also met representatives of JPMorgan to discuss strengthening banking relations and developing channels for international payments and transactions. SANA said the talks covered electronic payment and transfer systems, the legal and regulatory framework, and the restoration of correspondent banking relationships, and that a gap assessment report prepared by Oliver Wyman was reviewed.

SANA quoted Governor Raslan as saying: “Syria is not seeking an exemption or special treatment, but is working to restore its natural place in the global financial system.”

Reported by SANA on 2 October 2026
Correspondent banking on the agenda
Gap report by Oliver Wyman

Status

What was not announced

Neither the Treasury readout nor the SANA reports announce a concrete measure: no new correspondent account, no bank named as opening a channel, and no timetable. SANA describes the central bank's aim as moving from identifying gaps to measurable actions.

The Treasury readout refers to the US President's decision to lift virtually all sanctions on Syria and says the department will continue working with its Syrian counterparts on preventing illicit finance and on key reforms.

No executive measure announced
No timetable given
Work continues, per the Treasury

For shippers

What this means for paying for cargo to Syria

For importers and exporters, the talks do not change how payments for Syria shipments are made today. The sources report discussions, not an operating channel, so we do not forecast when transfers through correspondent banks will become available.

Our team confirms the payment arrangements for each shipment together with the quote.

No change to payment channels today
No date for correspondent transfers
Payment arrangements confirmed with each quote

Sources

FAQ

Frequently asked questions

Did Syria and the United States announce the return of correspondent banking?

No. The US Treasury readout of 1 October 2026 and SANA's reports of 2 October describe discussions on restoring correspondent banking relationships. No account, bank or date was announced.

Who took part in the New York roundtable?

According to the US Treasury: Assistant Secretary Jonathan Burke, Syria's Minister of Finance Yisr Barnieh, Central Bank of Syria Governor Safwat Raslan, and representatives of US financial institutions and payment service providers. Presidential Envoy Tom Barrack spoke by video.

What did the Central Bank of Syria discuss with JPMorgan?

SANA reported that the delegation discussed strengthening banking relations and developing channels for international payments and transactions. No agreement was reported.

Does this change how I pay for a shipment to Syria?

Not at present. The sources report talks only. Our team confirms the payment arrangements for each shipment with the quote.

Shipping to Syria?

Send us your cargo details and our team will confirm the route, the cost and the payment arrangements with your quote.

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