By Timour Azhari and Maya Gebeily

Central Bank of Syria Remains Intact Amid Turmoil

DAMASCUS (Reuters) – The vaults in Syria's central bank were left unscathed by looters during the chaos following the overthrow of President Bashar al-Assad, according to a senior business leader and three other sources.

Syria's rebels quickly seized Damascus on a Sunday after a rapid advance, forcing Assad to flee to Russia after 13 years of civil war and over five decades of his family's autocratic rule.

Bassel Hamawi, head of the Damascus Chambers of Commerce, reported that while some money was stolen from the central bank building, the main vault remained untouched. It remains unclear how much money was kept in the vaults.

> "The most important point is that the amounts in the central bank are still as they were; there is no infringement on it, and the money has been handed over to the new government," Hamawi stated.

Additional sources close to the central bank confirmed that looters had not breached the main vault during the unrest after regime forces laid down their arms. A source within the Hayat Tahrir al-Shams (HTS) rebel group, who met with the central bank governor, also verified that all reserves were intact.

Central bank governor Issam Hazima and deputy Maysaa Sabreen were reportedly still operating within the bank but did not respond to Reuters’ requests for comment.

The central bank has not disclosed reserve data for over a decade, leaving its current holdings unclear. The International Monetary Fund (IMF) refrained from commenting on Syria’s situation.

However, estimates from the IMF and the St. Louis Federal Reserve suggested Syria's gross international reserves were around $18.5 billion in 2010, prior to the civil war’s devastation. According to the World Gold Council, as of June 2011, Syria's central bank held 12% of its reserves in gold, equating to 25.8 metric tons.

On Tuesday, central bank employees were observed returning to work in the storied building in Damascus, passing through security gates.

> "God willing, we will start a new shift, a new day, a new year, a new life – everything new," expressed central bank employee Sumayra al-Mukli, smiling as she approached the bank after disembarking from the bus.