Ansi quotes does not work with password

MariaDB [(none)]> SET SQL_MODE=ANSI_QUOTES;

Query OK, 0 rows affected (0.00 sec)

MariaDB [(none)]> CREATE USER "foo"@"localhost" IDENTIFIED BY "bar";

ERROR 1064 (42000): You have an error in your SQL syntax; check the manual that corresponds to your MariaDB server version for the right syntax to use near '"bar"' at line 1

MariaDB [(none)]> CREATE USER "foo"@"localhost" IDENTIFIED BY 'bar';

Query OK, 0 rows affected (0.00 sec)