Official announcements from UK government or international aid organizations

Bashar al-Assad Holds £55 Million ($69.4M) in London HSBC Account; £163 Million Targeted for Syria's Rebuilding

Dec 15, 2024, 01:35 PM

Bashar al-Assad, the ousted Syrian leader, reportedly holds a personal fund of £55 million (approximately $69.4 million) in a frozen HSBC bank account in London. There are increasing calls for the UK government to seize £163 million in assets linked to Assad, his family, and associates, which are believed to be deposited in UK bank accounts. Advocates argue that these funds should be repurposed to aid in the reconstruction of Syria. The total assets associated with the Assad family may amount to approximately $12 billion, while Syria's GDP was recorded at $8.98 billion in 2021. The challenge of freezing these assets is compounded by the complex network through which Assad and his family have concealed their wealth abroad, often through relatives.