Damascus, July 29 (SANA)Governor of the Central Bank of Syria MohammadRaslanand Governor of the Central Bank of the Republic of Türkiye Fatih Karahan signed an agreement on Wednesday to open an official account for the Central Bank of Syria with the Turkish central bank, with the aim of facilitating financial and commercial transactions and strengthening banking and trade cooperation between the two countries.

Speaking to SANA, Supervisory Director at the Central Bank of Syria Omar al-Halabi said the agreement was signed during Karahan’s visit to Damascus, noting that the visit followed a series of preparatory meetings held in both Türkiye and Syria.

Al-Halabi explained that the agreement forms part of the Central Bank of Syria’s strategy to reactivate its network of correspondent banking accounts, describing the Central Bank of the Republic of Türkiye as an important correspondent institution, particularly in light of the existing trade relations between the two neighboring countries.

He added that the two sides also agreed to expand cooperation and exchange expertise in several areas, including payment systems and other technical and financial fields, as part of the Syrian central bank’s strategy to modernize payment systems in the Syrian Arab Republic.

Al-Halabi noted that the preparatory meetings also addressed several issues, including the withdrawal of the Turkish lira from northern Syria, cooperation in correspondent banking services, the opening of the Syrian central bank’s account with its Turkish counterpart, and efforts to help Syrian banks establish correspondent accounts in Türkiye.

Earlier on Wednesday, Foreign and Expatriates Minister, Asaad Hassanal-Shaibani, discussed with Governor of the Central Bank of the Republic of Türkiye Fatih Karahan, ways of enhancing economic and financial cooperation and expand banking ties between the two countries.