Amman, Sept. 21 (Petra) -- Governor of the Central Bank of Jordan Adel Sharkas said Monday that Syria’s economic recovery is a direct concern for Jordan, given the two countries’ shared economic interests and close ties, adding that recovery would help revive trade, transport and transit, strengthen market integration and supply chains, and benefit the wider Arab region.

Sharkas made the remarks while opening the Arab Regional Conference on Supporting Development and Investment in Syria, organized by the Union of Arab Banks in Amman on Sept. 21-22 under the theme "Arab Economic and Banking Partnership to Support Development and Investment in Syria." He underscored that supporting Syria’s recovery is both a shared Arab responsibility and a mutual economic interest, with potential benefits for trade, investment, transport and economic ties between Syria and Arab countries.

Sharkas highlighted the Jordanian banking sector’s technical and institutional expertise and extensive banking relationships, which, he noted, could support cooperation with Syria in trade finance, payment and remittance channels, governance, risk management and digital financial services.

Cooperation between the two central banks and financial institutions, he explained, could facilitate trade and payments and strengthen financial ties within the applicable regulatory frameworks.

Jordan hopes cooperation with Syria will develop into a broader Arab economic and banking partnership that supports investment, development and sustainable economic ties, Sharkas added.

Chair of the Association of Banks in Jordan Bassem Salem stressed the need to expand economic and banking dialogue and build partnerships that support investment and economic activity.

A strong and stable banking sector is essential to sustainable development, he maintained, not only through financing but also by building confidence, facilitating trade and supporting productive sectors.

Salem highlighted the importance of financial stability, modern payment systems, digital transformation and stronger ties with Arab and international financial institutions. He also expressed Jordan’s interest in strengthening banking cooperation with Syria and building on the two countries’ historic economic ties.

Governor of the Central Bank of Syria Mohammad Arslan stressed that the next phase requires moving from discussing opportunities to developing projects and establishing practical channels for cooperation.

Syria aims to build a more productive economy capable of attracting investment and integrating with the global economy, he noted, requiring monetary stability, stronger regulation, improved payment systems and sound banking governance.

Arslan identified investment opportunities in energy, infrastructure, industry, agriculture, tourism, health care, technology and services, but noted that turning them into projects requires financing, expertise, infrastructure and a clear regulatory environment.

He underscored the importance of stronger economic and banking ties with Jordan in facilitating trade and investment and expanding Arab cooperation.

Secretary-General of the Union of Arab Banks Wissam Fattouh pointed to Syria’s significant investment opportunities, while noting the need for strong institutions, clear policies, a robust private sector and a reliable banking system aligned with international standards.

Reconstruction and foreign trade require a banking sector capable of providing financing and reconnecting Syria with the international financial system, Fattouh maintained, stressing the need to modernize legislation, strengthen supervision and develop payment and compliance systems.

Fattouh welcomed efforts by the Central Bank of Syria to develop the financial sector and affirmed the Union of Arab Banks’ readiness to support capacity-building and exchange of expertise.

Chair of the Jordanian Businessmen Association Ayman Alawneh called for broader Arab economic cooperation and a stronger private-sector role in supporting Syria’s recovery and attracting investment.

Jordanian-Syrian banking cooperation could benefit from Jordan’s banking expertise and help develop financing and financial services supporting trade and investment, he noted. Alawneh stressed the need for cooperation among governments, banks, financial institutions and the private sector to direct investment toward job-creating and productive sectors.

//Petra// AJ