QFFD and IsDB Advance Coordinated Support for Syria's Financial-Sector Transformation
New York, September 22 (QNA) - Qatar Fund for Development (QFFD) and the Islamic Development Bank (IsDB) convened a high-level roundtable on the margins of the 81st Session of the United Nations General Assembly to advance coordinated international support for the transformation and recovery of Syria's financial sector.
In attendance of HE Chairperson of QFFD, Sheikh Thani bin Hamad Al-Thani, and HE Minister of State for International Cooperation, Dr. Maryam bint Ali bin Nasser Al Misnad, the roundtable brought together senior representatives from government authorities, multilateral development institutions, bilateral partners and international financial-sector institutions to discuss the enabling conditions, partnerships and financing mechanisms required to support financial-sector recovery and broader economic reconstruction.
The discussion was opened by HE Minister of State at the Ministry of Foreign Affairs of the State of Qatar, Dr. Mohammed bin Abdulaziz Al Khulaifi; HE Minister of Finance of the Syrian Arab Republic, Mohammed Yisr Barnieh; and HE Governor of the Central Bank of Syria, Mohammad Sawaf Raslan.
HE Director General of QFFD, Fahad Hamad Al Sulaiti, and senior representatives of international financial institutions and partners also contributed to the discussion.
The roundtable built on a comprehensive Financial Sector Gap Assessment and Roadmap commissioned by QFFD and developed with the Syrian authorities, with technical support from Oliver Wyman. The assessment covers the Central Bank of Syria, the banking sector, capital markets and insurance, identifying priority areas for reform and a sequenced programme of initiatives to strengthen the financial system.
Discussions focused on translating the assessment into a practical, partner-supported implementation roadmap, with particular attention to institutional reform, financial-sector standards and enablers, state-owned bank reform, capital markets, insurance, correspondent banking and the requirements for Syria's financial reintegration. Participants also examined how international partners can align their respective mandates and instruments, including financing, technical assistance, expertise, systems, training and co-financing, around Syrian priorities.
The roundtable marked a shift from diagnosis towards coordinated implementation, with participants discussing priorities, responsibilities, milestones, potential areas of partner support and mechanisms for continued coordination and monitoring.
The engagement reflects QFFD's broader approach to development finance: bringing together institutions, expertise and capital around country-led priorities, strengthening systems and creating the conditions for sustainable economic recovery and development. (QNA)
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