Contents of the Central Bank of Syria's vault revealed: Three keys and a password combination

The Central Bank of Syria reopened following the end of the Assad administration. It was learned that while it was revealed that there were 26 tons of gold reserves in its vault, foreign currency reserves were nearly depleted at 200 million dollars. On the other hand, it was noted that looters had attacked the bank but were unable to enter the main vault.

It was stated that the bank's main vault is bombproof and requires a combination of three keys, each held by a different person, and a password. Meanwhile, there were also allegations that Assad 'smuggled 2 tons of cash'.

THERE ARE 26 TONS OF GOLD IN THE VAULT

According to a Reuters report, the Central Bank of Syria's vault contains approximately 26 tons of gold, the same amount as at the start of the civil war in 2011.

According to World Gold Council data, Syria's gold reserves were around 25.8 tons in June 2011. This amount corresponds to 2.2 billion dollars at today's prices.

RESERVES ARE NEARLY DEPLETED

It was stated that the Central Bank of Syria's foreign currency reserves are only around 200 million dollars.

According to IMF data, the Central Bank of Syria had 14 billion dollars in foreign currency reserves at the end of 2011.

In 2010, Syria's foreign currency reserves were estimated to be 18.5 billion dollars.

Syrian officials stated that their reserves have reached the point of depletion and that the regime used dollar reserves to finance food, fuel, and Assad's war efforts.

Assad stopped sharing financial information with the IMF, the World Bank, and other international organizations starting in 2011.

MAIN VAULT PROTECTED FROM LOOTERS

It was stated that some looters briefly gained access to certain sections of the Central Bank of Syria and stole Syrian pounds, but were unable to enter the main vault.

Syrian officials also announced that some of the stolen money had been recovered.

THREE KEYS AND A PASSWORD COMBINATION

While it was stated that the bank's main vault is bombproof, it was emphasized that a combination of three keys, each held by a different person, and a password are required.

ALLEGATIONS OF TONS OF CASH SMUGGLED

Opposition forces entered Damascus on December 8, bringing an end to the 53-year Assad dynasty. Bashar al-Assad fled to Russia with his family and received political asylum.

The Financial Times had alleged that between 2018 and 2019, the Central Bank of Syria sent several planes to Moscow carrying 2 tons of cash consisting of 100-dollar and 500-euro banknotes, worth a total of 250 million dollars.

According to the US press, the smuggled money was deposited into accounts in Russian banks. It was also claimed that the Assad family purchased luxury properties in Moscow.