Syrian Central Bank Says Jordanian Banks Seek Investment as MoneyGram Returns
Syrian Central Bank Governor Safwat Raslan announced that Jordanian banks have submitted investment requests in Syria, MoneyGram transfers between the two countries have returned, and SWIFT activation requires compliance with international anti-money laundering standards.
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Key points
- Jordanian banks have submitted investment requests in Syria, not yet approved.
- MoneyGram transfer service has returned between Jordanian and Syrian banks.
- SWIFT activation requires compliance with international AML and counter-terrorism financing standards.
- Statements came from Syrian Central Bank Governor Safwat Raslan.
What did Syria's central bank announce?
Syrian Central Bank Governor Safwat Raslan told Jordan's Kingdom Channel that several Jordanian banks have submitted requests to invest in Syria. Syria's banking sector has been largely cut off from the international financial system for years, so any regional banking interest marks a notable early signal of potential reintegration.
No details were given about the names of the applying banks or the size of the proposed investments, and the requests have not yet been formally approved, as the wording of the statement itself suggests.
MoneyGram transfers return between Syria and Jordan
The governor confirmed the return of MoneyGram services between Jordanian banks and Syrian banks. MoneyGram is a money transfer channel Syrians inside the country and abroad rely on to send and receive funds quickly.
The resumption is particularly significant for Syrians residing in Jordan, giving them an official channel to send money to relatives without resorting to informal methods that carry legal and financial risks.
SWIFT activation and international compliance conditions
Raslan explained that activating SWIFT, the global financial messaging network used for cross-border bank transfers, requires Syrian banks to comply with international standards on anti-money laundering and counter-terrorism financing. Full reconnection to SWIFT would mark a broader return of Syria to the international financial system.
According to the statement, this process is not yet complete, as it remains conditional on requirements that have not been fully met so far.
What does this mean for Syrians?
Taken together, these developments are initial steps toward reconnecting Syria's banking sector with the outside world, which could eventually ease transfers and trade transactions. For now, however, the practical impact remains limited until the Jordanian bank requests are formally approved, MoneyGram operations actually begin, and SWIFT conditions are met.
Syrians can follow the Syrian pound exchange rate and daily banking news on SYPNow to track how these developments affect the market.
Frequently asked questions
Is MoneyGram working between Syria and Jordan again?
Syrian Central Bank Governor Safwat Raslan announced the return of MoneyGram services between Jordanian and Syrian banks, but actual operations have not yet started and no specific launch date was given.
Are Jordanian banks investing in Syria?
Jordanian banks have submitted formal investment requests in Syria according to the central bank governor, but these requests have not been approved yet, and no details were provided about their size or the banks involved.
Why is SWIFT not activated for Syrian banks?
Because SWIFT activation requires Syrian banks to comply with international anti-money laundering and counter-terrorism financing standards, requirements that have not been fully met according to the statement.
What would SWIFT reconnection mean for Syrians?
It would allow official international bank transfers to and from Syria, easing foreign trade and remittances while reducing reliance on informal transfer channels.
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