Syrian Central Bank freezes accounts of former Syrian regime collaborators

The Central Bank of Syria announced Wednesday that it would freeze all bank accounts of individuals and companies linked to the Assad regime, which was overthrown by Hay'at Tahrir al-Sham (HTS) on Dec. 8, 2024. This was according to an official decision dated Jan. 22, 2025, and signed by Maysaa Sabrine, the governor appointed by the Islamist coalition that prompted Bashar al-Assad's downfall in December.

The statement said this decision also includes all accounts belonging to Katerji Group, an investment firm based in Damascus that the Syrian Central Bank has also linked to the regime.

"Withdrawal and transfer activities are thus interrupted, and any banking activity will require prior approval from the central bank, provided that the parties concerned inform the bank of the amounts contained in the accounts and provide personal information within three working days following the submission of the request," it added.

While the Central Bank provided no further details about the Katerji Group in its statement, it is potentially owned by Bara' Katerji, a Syrian businessman who managed some dark dealings of the Assad clan and who was killed in July in an Israeli strike at the Lebanese-Syrian border.

Bara' and his brother Houssam Katerji had led the largest smuggling network of crude oil, diesel, and gasoline from areas controlled by the Syrian Democratic Forces (SDF) to areas managed by regime forces.

In the wake of Bashar al-Assad's fall on Dec. 8, the Central Bank stated that depositors’ funds in the country's banks were "safe" after militants took the capital, following chaotic scenes near some official institutions.

This article was originally published in French in L'Orient-Le Jour.