Maysaa Sabrine, a former deputy governor of the Syrian central bank, has been named as its first female governor, marking a significant moment in its 70-year-old history. Sabrine’s appointment comes as the country’s new leadership seeks to reshape its banking sector and economy.
With over 15 years of experience in the financial sector, Sabrine has long been an integral part of the central bank, overseeing various facets of the country’s banking infrastructure, according to Al Jazeera.
Holding a master’s degree in accounting from Damascus University, she is also a certified public accountant and has represented the central bank on the board of the Damascus Securities Exchange since 2018. Sabrine has also held the position of chief of the Office Control Division within the central bank.
Sabrine’s appointment follows the ousting of Mohammed Issam Hazime, who had been appointed governor in 2021 by the previous regime of President Bashar al-Assad. Hazime remained in the role even after Assad’s fall in December, when a rebel offensive led by Hayat Tahrir al-Sham (HTS) took power.
Since the regime’s collapse, the Syrian central bank has made efforts to modernise and liberalise the nation’s economy, which has long been tightly controlled by the state. These changes include eliminating the requirement for pre-approvals for imports and exports and loosening strict controls on foreign currency usage.
Despite these moves, the bank continues to operate under stringent sanctions imposed by the United States and other Western powers.
The bank has also taken steps to assess the country’s financial assets following the upheaval. While a brief period of looting resulted in the theft of Syrian currency, the central bank’s vaults remained largely untouched, reported Reuters.
These vaults reportedly still contain nearly 26 tonnes of gold, the same amount it held at the onset of the civil war in 2011. But Syria’s foreign currency reserves have seen a dramatic decline, plummeting 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, who has also appointed Aisha al-Dibs as head of the Women’s Affairs Office earlier this month.
The article originally appeared on NDTV.
