Syria’s Anti-Money Laundering and Counter-Terrorism Financing Authority (AML/CFT), working in partnership with the United Nations Development Programme (UNDP), unveiled the National Strategy for Countering Money Laundering, Terrorist Financing, and Proliferation Financing during an official ceremony on Tuesday at the Dama Rose Hotel in Damascus.
The event drew senior members of the Syrian cabinet, among them Interior Minister Anas Khattab, Justice Minister Mazhar al-Wais, Finance Minister Mohammad Yusr Barnia, Economy and Industry Minister Mohammad Nidal al-Shaar, and Communications Minister Abdulsalam Haykal, alongside representatives from national institutions and international organisations.
Safwat Raslan, Governor of the Central Bank of Syria and head of the AML/CFT Commission, described the strategy as a chance to forge a unified national vision and strengthen coordination among relevant authorities. He stressed that improving institutional integration and raising the effectiveness of Syria’s anti-money-laundering framework are essential to safeguarding the national economy, restoring public confidence in state institutions, and creating conditions conducive to investment and sustainable development. Raslan reiterated Syria’s commitment to aligning domestic regulations with international standards, particularly the Financial Action Task Force (FATF) recommendations, as part of ongoing legislative and technical reforms aimed at removing the country from the grey list.
Security and Judicial Roles
Interior Minister Anas Khattab warned that financial crimes pose a direct threat to national security and the rule of law. He outlined the ministry’s responsibilities in detecting financial offences, dismantling criminal networks, and strengthening intelligence capabilities in close cooperation with the judiciary and the AML/CFT Commission.
Justice Minister Mazhar al-Wais emphasised that confronting illicit financial activity is central to protecting society, noting that successful implementation of the strategy depends on robust international partnerships built on trust and the exchange of expertise. Finance Minister Mohammad Yusr Barnia added that countering financial crime extends well beyond traditional banking oversight, forming a core pillar of economic stability and institutional performance.
Restoring Financial Confidence
UNDP Acting Resident Representative Ruhi Afghani said the strategy arrives at a critical juncture after more than a decade of financial isolation. He pointed to recent developments — including the lifting of most economic sanctions and the gradual resumption of trade and investment — as early signs of recovery. Afghani explained that the new framework aims to channel financial flows back into formal banking systems and establish transparent mechanisms capable of earning both domestic and international trust.
Independent Financial Intelligence Unit
The launch follows Raslan’s announcement on Monday of a rebranding and institutional restructuring that will transform the AML/CFT Authority into an independent entity serving as Syria’s primary Financial Intelligence Unit (FIU).
The autonomous body will be empowered to receive and analyse suspicious transaction reports, conduct financial investigations, refer substantiated cases to the judiciary, monitor compliance across regulated sectors, and facilitate information exchange with regional and international counterparts.
This article was translated and edited by The Syrian Observer. The Syrian Observer has not verified the content of this story. Responsibility for the information and views set out in this article lies entirely with the author.
