Because currency is a core marker of national identity, overhauling the Syrian financial and banking sector that has been in decline for 14 years requires a new currency, analysts said.

The economic toll of “Israel’s” war on Gaza is rattling Israeli Occupation society, with mounting warnings of catastrophic fallout for ordinary households if the Israeli government follows through on its August 20, 2025, plan to occupy Gaza City.

The Palestinian Authority has entered a difficult period of austerity following punitive Israeli Occupation policies, coinciding with Tel Aviv’s ongoing devastating war on the Gaza Strip since October 7, 2023.

Amid rising European anger over “Israel’s” ongoing genocide in Gaza, and as 15 Western countries threaten to recognize the State of Palestine, the EU has announced the exclusion of Israeli companies from Horizon Europe.

With the lifting of several Western and American sanctions on Syria, reforming the Syrian banking system is no longer a choice but a necessity for rebuilding the national economy.