Syria Appoints Maysaa Sabrine as First Female Central Bank Governor
Syria has appointed Maysaa Sabrine as the first female governor of its central bank, marking a historic moment for the 70-year-old institution. This move comes as the country’s new leadership aims to reshape its banking sector and economy.
Sabrine, who has over 15 years of experience in the financial sector, has been an important figure at the central bank. She has played a key role in overseeing various aspects of the country’s banking infrastructure, according to Al Jazeera.
She holds a master’s degree in accounting from Damascus University and is a certified public accountant. Since 2018, Sabrine has represented the central bank on the board of the Damascus Securities Exchange. She has also served as the chief of the Office Control Division within the central bank.
Her appointment follows the removal of Mohammed Issam Hazime, who had been appointed governor in 2021 by the previous regime of President Bashar al-Assad. Hazime remained in office even after Assad’s fall in December, when a rebel offensive led by Hayat Tahrir al-Sham (HTS) took control of the country.
Since the collapse of the Assad regime, the Syrian central bank has been working to modernize and liberalize the nation’s economy, which has traditionally been tightly controlled by the state. Recent changes include removing the need for pre-approvals for imports and exports and relaxing strict controls on foreign currency use.
However, despite these reforms, the central bank continues to face heavy sanctions from the United States and other Western countries. The bank has also been assessing Syria’s financial assets following the turmoil. While a brief period of looting led to the theft of Syrian currency, the central bank’s vaults remained mostly secure. These vaults still contain nearly 26 tonnes of gold, the same amount it held at the start of the civil war in 2011. However, Syria’s foreign currency reserves have dropped significantly, from around $18 billion before the conflict to just $200 million today.
Sabrine’s appointment is part of a broader shift within Syria’s new administration, led by de facto leader Ahmad al-Sharaa. Earlier this month, Aisha al-Dibs was also appointed as head of the Women’s Affairs Office, further signaling a move towards change in the country’s leadership.
