Syria's New Rulers Appoint Maysaa Sabrine to Lead Central Bank, Official Says

People and cars are seen in front of the Central Bank of Syria, after rebels seized the capital and ousted Syria's Bashar al-Assad, in Damascus, Syria December 11, 2024. REUTERS/Amr Abdallah Dalsh/File Photo
People and cars are seen in front of the Central Bank of Syria, after rebels seized the capital and ousted Syria's Bashar al-Assad, in Damascus, Syria December 11, 2024. REUTERS/Amr Abdallah Dalsh/File Photo
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Syria's New Rulers Appoint Maysaa Sabrine to Lead Central Bank, Official Says

People and cars are seen in front of the Central Bank of Syria, after rebels seized the capital and ousted Syria's Bashar al-Assad, in Damascus, Syria December 11, 2024. REUTERS/Amr Abdallah Dalsh/File Photo
People and cars are seen in front of the Central Bank of Syria, after rebels seized the capital and ousted Syria's Bashar al-Assad, in Damascus, Syria December 11, 2024. REUTERS/Amr Abdallah Dalsh/File Photo

Syria's new rulers have appointed Maysaa Sabrine, formerly a deputy governor of the Syrian central bank, to lead the institution as the first woman to do so in its more than 70-year history, a senior Syrian official said.

Sabrine, a longtime central bank official mostly focused on oversight of the country's banking sector, did not immediately respond to a request for comment.

She replaces Mohammed Issam Hazime who was appointed governor in 2021 by then-President Bashar al-Assad and remained on after Assad was ousted by a lightning opposition offensive on Dec. 8.

Since the takeover, the bank has taken steps to liberalize an economy that was heavily controlled by the state, including by cancelling the need for pre-approvals for imports and exports and tight controls on the use of foreign currency.

But Syria and the bank itself remain under strict US sanctions.

The bank has also taken stock of the country's assets after Assad's fall and a brief spate of looting that saw Syrian currency stolen but the main vaults left unbreached, Reuters reported.

The vault holds nearly 26 tons of gold, the same amount it had at the start of its civil war in 2011, sources told Reuters, but foreign currency reserves had dwindled from around $18 billion before the war to around $200 million, they said.



Lebanon Elects Army Chief as New President

The Lebanese Parliament building a day before a session to elect the Lebanese president, in Beirut, Lebanon, 08 January 2025. (EPA)
The Lebanese Parliament building a day before a session to elect the Lebanese president, in Beirut, Lebanon, 08 January 2025. (EPA)
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Lebanon Elects Army Chief as New President

The Lebanese Parliament building a day before a session to elect the Lebanese president, in Beirut, Lebanon, 08 January 2025. (EPA)
The Lebanese Parliament building a day before a session to elect the Lebanese president, in Beirut, Lebanon, 08 January 2025. (EPA)

Lebanon's parliament elected army chief Joseph Aoun head of state on Thursday, filling the vacant presidency with a general who enjoys US approval and showing the diminished sway of the Iran-backed Hezbollah group after its devastating war with Israel.
The outcome reflected shifts in the power balance in Lebanon and the wider Middle East, with Hezbollah badly pummelled from last year's war, and its Syrian ally Bashar al-Assad toppled in December.
The presidency, reserved for a Maronite Christian in Lebanon's sectarian power-sharing system, has been vacant since Michel Aoun's term ended in October 2022, with deeply divided factions unable to agree on a candidate able to win enough votes in the 128-seat parliament.
Aoun fell short of the 86 votes needed in a first round vote, but crossed the threshold with 99 votes in a second round, according to Parliament Speaker Nabih Berri, after lawmakers from Hezbollah and its Shiite ally the Amal Movement backed him.
Momentum built behind Aoun on Wednesday as Hezbollah's long preferred candidate, Suleiman Franjieh, withdrew and declared support for the army commander, and as French envoy shuttled around Beirut, urging his election in meetings with politicians, three Lebanese political sources said.
Aoun's election is a first step towards reviving government institutions in a country which has had neither a head of state nor a fully empowered cabinet since Aoun left office.
Lebanon, its economy still reeling from a devastating financial collapse in 2019, is in dire need of international support to rebuild from the war, which the World Bank estimates cost the country $8.5 billion.
Lebanon's system of government requires the new president to convene consultations with lawmakers to nominate a Sunni Muslim prime minister to form a new cabinet, a process that can often be protracted as factions barter over ministerial portfolios.
Aoun has a key role in shoring up a ceasefire between Hezbollah and Israel which was brokered by Washington and Paris in November. The terms require the Lebanese military to deploy into south Lebanon as Israeli troops and Hezbollah withdraw forces.
Aoun, 60, has been commander of the Lebanese army since 2017.