Syria Appoints First Female Central Bank Governor Amid Economic Woes
The newly minted leaders of Syria have made history by appointing Maysaa Sabrine as the interim chairwoman of the Central Bank of Syria, making her the first woman to hold the position in its 70-year history. Having served as the vice chair since 2018, Sabrine’s ascent comes after successor Mohammed Issam Hazime was appointed by dictator Bashar al-Assad in 2021.
With over 15 years of experience in the banking sector, Sabrine’s appointment marks another significant moment for women in Syria’s new leadership. Last week, Aisha al-Dibs was appointed head of the Bureau of Women‘s Affairs, signaling a shift towards gender representation. However, Sabrine’s views on women’s rights have drawn criticism. She previously stated that women should not "transcend the priorities of their nature given by God," emphasizing child-rearing duties. Syria’s new Minister of Foreign Affairs subsequently defended the government’s stance on women’s rights via Twitter.
Syria’s economy has been in a dire state since the onset of its civil war in 2011. According to Hayat Tahrir al-Sham (HTS), the militia that ousted Assad’s regime, the country’s treasury is empty, with foreign currency reserves plummeting from $18 billion to a mere $200 million since the conflict began. The militia claims that the central bank still possesses nearly 26 tons of gold but has not fully detailed its plans for economic recovery.
The Syrian pound has experienced a significant decline since the war began. In 2011, one US dollar was worth approximately 50 Syrian pounds; today, it stands between 12,000 and 15,000 pounds. Since HTS seized power, the central bank has implemented measures to liberalize the economy, including abolishing state approval for goods imports and exports.
Mideast Editor Eliane Lamper’s Take
With Sabrine’s appointment, HTS demonstrates its commitment to inclusivity, a departure from its hardline past. The group has previously pledged to protect the rights of women and minorities, but skepticism persists due to its extremist roots. Only time will tell how these promises will manifest.
The central bank appointment solidifies the new political landscape in Syria, following last week’s female ministerial appointment. While not entirely unexpected, a distinguished career banker at the helm of the central bank marks a notable stride for both gender equality and Syria’s economic reformation efforts.
