International Journal of Advanced Engineering Research and Science (IJAERS) [Vol-4, Issue-5, May- 2017] https://dx.doi.org/10.22161/ijaers.4.5.4 ISSN: 2349-6495(P) | 2456-1908(O) www.ijaers.com Page | 18 Central Bank of Syria and its Role in the Syrian Economy Dr. Ghassan Farouk Ghandour College of Financial & Administration-Department of Accounting & IT, Cihan University/ Sulaiymani, Kurdistan Region Government/Iraq. Abstract— Syria as a developing country suffered from backwardness of monetary policy and dependence of central bank to government, so monetary authority couldn't attain final aims of monetary policy and on the other hand couldn't stimulate Syrian economy to attain real growth. But in the recent years Syrian government tends to reform the monetary policy and give some independence to central bank of Syria through modernizing current laws and regulations. Keywords— monetary policy, economy, inflation, currency. I. INTRODUCTION Monetary policy considers important part of general economic policy it can effect and move all economic indexes and variables like(general level of prices (inflation), level of employment and investment, growth rate of GDP(gross domestic product) and national income and distribution of them between individuals and sectors. Central banks in the world consider the monetary authorities that use implementations of monetary policy to attain the final aims of monetary policy (stability the general level of prices and stability the exchange rate of national currency). Research hypotheses In order to address the problem of this research and to facilitate the answer to the questions posed, we can develop a number of hypotheses based on the collected information, so we assume the following: 1- Monetary policy is one of the most important means of economic policy to influence economic activity 2-Monetary policy performance can be effective and efficient only if a set of standards and controls are available Research importance This research derives its importance from the position of monetary policy from the perspective of economic schools, its role in addressing economic imbalances, its position in the economic reform programs supported by the international financial institutions, and the transition to a market economy, which is more important than the position it enjoys This policy aims at achieving economic stability and driving growth as the most important parts or items of economic policy. Research objectives This research aims at reaching several points, the most important of which are: 1- Highlighting the theme of monetary policy in all its aspects to show its importance and role in economic activity as well as uncover mechanisms and methods of work and everything related to them 2- Attempt to evaluate the performance of the controls or criteria on which monetary policy is based in the national economy in light of the economic reforms adopted Research Methodology A combination of the descriptive curriculum and the analytical approach will be used as the descriptive approach relates to the review of school ideas and the presentation of the structure of the Syrian economy. The analytical approach was based on trying to understand the elements of monetary policy and reform programs, using the foundations and relations based on them, and diagnosing the problems that were raised, as well as trying to put a quantitative expression of the various stages experienced by the Syrian economy. First: establishment The Central Bank of Syria: The Central Bank of Syria was established by Legislative Decree No. ( 87 ) dated 28/3/1953 which included the Basic Monetary System of Syria( and that modified by the law No. (23) dated 17/3/2002) . The Bank started its operations on the first of August 1956, with its headquarters in the city of Damascus , and 11 branches located in the governorates of Syria(1) Second: The Management of the Central Bank of Syria The bank is managed by the Governor who heads the Administration Committee. The Committee includes one Deputy Governor and three Executive Directors. The Governors insure the compliance with the laws and basic rules and regulations of the Bank