The Credit and Monetary Council 

The Credit And Monetary Council (CMC) is the monetary authority which has the responsibility for conducting the monetary policy and oversee on the implantation it with accordance to the macro economic policies in Syria.

It was founded under the Legislative Decree No. 87 in 28/3/1953, and It started its tasks in 1956. This Legislative Decree was amended under law No.23 in 17/3/2002.

Its mission is to regulates Monetary and credit institutions and coordinate its activities to achieve its goals which includes the stability of the domestic currency value, financial stability, and support the national economic  growth, so it has the following responsibilities:

·         Conducting the monetary policy with accordance to government macroeconomic goals and National economic needs.

·         Regulating the transactions of payment and settlement.

·         Supervising and regulating the banking sector and direct its activities by Central Bank of Syria.

·         Conducting the issues related to banking sector and research at all activities and cases related to it.

·         Conduct surveys and studies required for its functions or assigned to it by the executive authority, and providing the government with monetary, banking and financial consultancy.

The Decree No. 249 dated 7/7/2011 formed the new "Credit and Monetary Council", which consists of:

- Governor of Central Bank of Syria                                    President

- Chief of Planning and International Cooperation                

   Commission                                                                        Member

- First Deputy Governor of Central Bank of Syria                Member

- Deputy Minister of Finance, for public spending                Member

- Expert, Dr. George Alouzon                                                Member

- Expert, Dr. Riad Daoudi                                                      Member

- Expert, Dr. Said Habal                                                        Member