Washington Opens New Economic Horizons in Post-Assad Syria
Exemptions in the American license reveal a clear vision to prevent economic facilities from being exploited by forces opposing democratic transition
January 6, 2025, 9:48 pm

Washington Opens New Economic Horizons in Post-Assad Syria

سوريا

The U.S. Treasury Department announced a historic step by issuing a general license allowing transactions with Syrian government institutions starting December 8, 2024, in a clear indication of Washington's support for political and economic transformation in Syria.

The new license covers a wide range of economic transactions, allowing support for sales, supply, and storage deals of energy products, including oil, natural gas, and electricity, both within Syria and in international transactions.

The American instructions open the door for transferring non-commercial personal remittances to Syria through the Syrian Central Bank, in a move aimed at facilitating financial transactions for Syrian citizens.

The license sets strict controls that exclude transactions with military and intelligence entities, and prohibits any dealings with the Russian and Iranian governments and all their affiliated parties, in a clear indication of isolating forces opposing democratic transition.

The decision includes a special exception regarding fund transfers to individuals listed on the sanctions list, allowing only the payment of salaries and public fees in specific and restricted cases.

Economic analysts view this step as a fundamental shift in American policy toward Syria, aimed at supporting the reconstruction process and stimulating economic activity while ensuring that anti-democratic parties do not benefit.

These facilities reflect Washington's vision to contribute to Syria's economic stability while maintaining pressure on forces that oppose democratic transition and threaten regional stability.

Experts expect this license to contribute to activating commercial and economic movement in Syria, facilitating humanitarian aid access, and enhancing investment opportunities in vital sectors such as energy and infrastructure.

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”