Syria to unveil new currency as a symbol of its economic reset
Syria will be rolling out a new national currency on Jan. 1 in a break with years of the pound’s depreciation.
Central Bank of Syria Governor Abdulkader Husarieh announced the move in Damascus on Thursday, calling it a “pivotal national milestone” and the beginning of a new economic and monetary phase for the country.
An exchange of old notes for the new ones will be managed by the Central Bank, which will set timelines and locations.
Husariah described the new currency as a symbol of renewed financial sovereignty after years of conflict in which the government of former President Bashar Assad was overthrown.
Morocco preparing to lift seven-year ban on cryptocurrencies
Morocco, which has banned cryptocurrencies since 2017, is preparing a law to allow their use, Central Bank Governor Abdellatif Jouahri said.
“Like many countries around the world, we are exploring to what extent this new form of currency could contribute to achieving certain public policy objectives, particularly in terms of financial inclusion,” Jouahri said Tuesday at the Regional High-Level Symposium on Financial Stability in Rabat.
Bank Al Maghrib, as the Central Bank is known, is also exploring the possibility of issuing its own digital currency, he said.
Moroccan law forbids cryptocurrencies, but their broad use is well-known as citizens find ways to bypass the restrictions.
