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Syria's central bank issues first letter of credit in 14 years
Original: Syria’s central bank issues first letter of credit in 14 years
Syria's central bank has issued its first letter of credit in 14 years, a step toward restoring basic trade finance after more than a decade in which sanctions and the country's banking isolation largely cut off normal import financing. The move is being read as a signal that Syria may be re-entering the international financial system, with businesses watching closely for easier access to imports.
Why now: It signals a possible thaw in Syria's financial isolation and renewed international engagement after years of sanctions and war.
Evidence
- Syria’s central bank issues first letter of credit in 14 years · Arabian Gulf Business Insight | AGBI
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