The recent financial agreement between Syrian authorities and businessman Mohammad Hamsho, a figure associated with the former regime, has ignited significant debate among revolutionary circles. This reaction stems from a lack of transparency regarding the specific terms of the deal and the concessions made by Hamsho. According to an anonymous high-ranking official at Syria’s National Commission for Combating Illicit Gain—the body responsible for the Hamsho agreement—the organization is currently pursuing more than 900 individuals, many of whom have already initiated the settlement process.
These agreements are being facilitated through a newly established voluntary disclosure program. The commission states that this initiative is designed to foster economic justice and ensure the transparency of properties and assets belonging to business figures suspected of accumulating wealth through ties to the previous administration. The official noted that similar settlements with businessmen Samer Foz and Wassim Qattan are currently being finalized, with public announcements expected once the legal procedures are concluded.
Recovery of Billions in Assets
Regarding the scale of funds illicitly gathered by those close to the former government, sources told Enab Baladi that the commission has already secured substantial amounts. For instance, the settlement with Mohammad Hamsho alone resulted in the recovery of cash and assets worth approximately $800 million. This figure specifically represents what was obtained from Hamsho and does not account for the assets of individuals who fled the country, whose properties were entirely confiscated by “the competent authorities” following commission directives.
The $800 million recovered from this single case suggests that the total volume of funds reclaimed by the commission since its inception in May 2025 has reached several billions of US dollars. These preliminary estimates highlight the massive scale of the financial recovery efforts currently underway.
Legal Guarantees and Penalties
When asked about the protections provided to participating businessmen, the commission source clarified that the settlements do not offer any immunity against personal or criminal prosecution. Instead, the agreement strictly ensures that the individual will no longer face financial litigation related to illicit gain.
Furthermore, the source emphasized that the process is strictly conditional. Business figures under investigation must provide comprehensive financial disclosures for assets held both within Syria and abroad. If it is discovered that any funds or properties were deliberately hidden, the agreement is immediately canceled. In such cases, the commission will direct judicial and financial authorities to seize all assets and pursue the individual through the court system.
Objectives of the Settlement Program
The commission official explained that the motivations behind these settlements extend beyond economics. A primary goal is to dismantle the potential for illicit wealth to be used to form organized groups that could jeopardize the security of Syrian society. This strategy aligns with United Nations recommendations for anti-corruption and managing war economies in post-conflict nations.
According to its official website, the voluntary disclosure program is built upon several core objectives, including:
- Formal Economy Integration: Reincorporating assets and activities linked to the former corrupt system into the formal economy via regulated settlements and economic pardons. This aims to stabilize the economy, support reconstruction, and foster social peace.
- Public Fund Recovery: Returning a significant portion of illegally obtained wealth to the state’s economic cycle through legal frameworks.
- Dismantling Shadow Economies: Exposing and breaking down financial networks tied to conflict economies and the intersection of power and money.
- Economic Forgiveness: Promoting social stability through a structured pardon process that addresses the past while protecting public interests.
- Sustainable Business: Bringing cooperating business figures back into the formal, state-supervised economy to ensure their future activities remain legitimate.
Global Standards and High-Level Oversight
The National Commission for Combating Illicit Gain maintains that its operations meet the highest international benchmarks. The source indicated that the processes for asset recovery and settlements are governed by strict protocols. To ensure continued transparency, the commission is in the process of hiring a well-known global auditing firm to review its activities, an agreement that will be officially announced in the near future.
“We greatly value having our work be transparent now and in the future, this is the commission’s duty, and therefore we will announce to everyone the agreements with the above-mentioned oversight body, to apply high-level governance to our procedures,” the official stated. The commission also noted its commitment to the standards set by the United Nations Office on Drugs and Crime (UNODC), adopting strategies successfully used by other nations to combat illicit gain.
The Agreement with Mohammad Hamsho
The commission officially announced the conclusion of its settlement with Mohammad Hamsho on 7 January. The deal was reached under the voluntary disclosure program following what the commission described as “extensive investigations and a comprehensive review of the assets and financial disclosures” provided by Hamsho.
The statement released on the commission’s website clarified that the program allows for the regularizing of tax and legal statuses “without prejudice to the state’s rights or departure from the legal framework.” It noted that such settlements are available to those who can demonstrate that their current wealth was built through legal means. The commission views this specific settlement as a “significant step” in Syria’s broader path toward legal and economic reform, intending to restore financial rights to the state while encouraging a more transparent investment environment. Implementation will be monitored strictly, with the commission warning that misleading information will lead to immediate legal accountability.
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