Interview
A Syrian citizen shows off a new banknote released and distributed by the Central Bank, in the capital Damascus on January 3, 2026. Photo: AFP
ERBIL, Kurdistan Region - The governor of the Central Bank of Syria (CBS) said on Sunday that it plans to distribute the new banknotes across the country, including the Kurdish region of northeast Syria (Rojava).
“We have put in place a clear plan to distribute the new currency to all regions, including northern and eastern Syria and the south. There are approved exchange centers and designated transport channels to facilitate the secure delivery of the new banknotes, with close monitoring to ensure availability to all citizens without delay or difficulty,” Abdulkader Husrieh said in an exclusive interview with Rudaw’s Nushin Heme.
The northeast is controlled by the Kurdish-led Syrian Democratic Forces (SDF) and the south is held by the Druze. Rojava is in the process of integration into the new government in Damascus but the Druze in Suwayda province seek autonomy.
On Wednesday, Sihanok Dibo, the Democratic Autonomous Administration of North and East Syria’s (DAANES) representative to the Gulf, criticized Damascus’ introduction of new currency denominations, saying the move lacked broad national participation. He said the design and issuance of currency are sovereign matters that should reflect Syria’s diversity, adding that the Autonomous Administration “would not boycott the currency,” despite its reservations.
Asked about how they plan to collect the old banknotes, the governor said they have a plan to do so with “complete security.”
The following is the full transcript of the interview with Husrieh:
Rudaw: How will the bank monitor markets to ensure traders do not exploit the exchange process and raise prices of basic goods?
Husrieh: The Central Bank, in cooperation with the government, community bodies, and the private sector, monitors markets on a daily basis to ensure traders adhere to pricing and do not exploit the currency exchange process. We have strict mechanisms for rapid intervention and for imposing controls on any violations, ensuring the process runs smoothly and transparently while fully protecting citizens’ purchasing power.
How will the bank ensure the new denominations reach northeast [Rojava] and southern Syria? Are there authorized exchange centers or licensed financial intermediaries?
We have put in place a clear plan to distribute the new currency to all regions, including northern and eastern Syria and the south. There are approved exchange centers and designated transport channels to facilitate the secure delivery of the new banknotes, with close monitoring to ensure availability to all citizens without delay or difficulty.
Has a decision been made to pay salaries and employee entitlements in those regions in the new currency starting next month, or will this be done gradually?
A decision has been taken to pay salaries and entitlements in the new currency starting next month, with the process organized to prevent any disruptions and to efficiently meet the needs of all employees.
Has coordination taken place with local authorities or international organizations to pay salaries in those regions in the new currency to ensure its rapid circulation?
Yes, coordination has been carried out with local bodies and administrative authorities to ensure the swift delivery of salaries in the new currency. An organized mechanism has been established to accelerate distribution and ensure the effective circulation of the new banknotes to meet citizens’ needs.
How will large sums held by individuals and institutions in those regions be handled? Is there a ceiling for exchanging amounts without questioning their source?
We will adopt a clear and transparent mechanism for exchanging large sums, with a specified ceiling that allows exchange without legal questioning of the source of funds, while adhering to banking laws and regulations. The aim is to protect citizens’ money, ensure the integrity of the process, and prevent any illegal activity.
What will be the final fate of the old banknotes that are withdrawn? Is there a secure mechanism for transporting them to the Central Bank vaults in Damascus?
The old banknotes will be collected and transported with complete security to the Central Bank’s vaults under tightly controlled and closely monitored procedures, ensuring their safety and preventing any misuse, with full commitment to transparency.
Updated at 5:42 pm.
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