A National Payment Framework
Syria has adopted a national system for payments and electronic transfers under Decision No. 1124 of 2026, establishing a legal framework for licensing and regulating payment service providers, electronic-money issuers, and payment system operators. The measure brings the digital-payment sector under formal supervision.
The framework folds anti-money-laundering and counter-terrorism-financing requirements into day-to-day operations, including risk identification, customer identification, transaction monitoring, suspicious-transaction reporting, and checks against sanctions lists. A separate set of rules covering designated non-financial businesses and professions is being finalized.
Return After 15 Years
The chairman of the Anti-Money Laundering and Counter-Terrorism Financing Authority, Safwat Raslan, addressed the general meeting of the Financial Action Task Force in Paris on 30 October 2026, in what officials described as the country's first participation in more than 15 years. The session was chaired by the United Kingdom, and his remarks were later published on the authority's channels.
Raslan said the authorities are committed to "a stronger, more transparent and flexible financial system" that meets international standards. The appearance marked a notable re-engagement with the international financial system.
Reforms Under Review
A national risk assessment is being conducted with the World Bank, while related legislation is being reviewed with the International Monetary Fund to bring it in line with international standards.
Planned banking measures include stronger customer due diligence, improved quality of customer data, risk-based supervision, and tighter screening of names and transactions. Talks are continuing with banks, exchange companies, and payment providers on compliance, correspondent banking, trade finance, and technical readiness — areas central to restoring links with foreign lenders.
The Road to Evaluation
A high-level delegation from the task force's Middle East and North Africa body visited Damascus in July 2026 as part of the renewed engagement. Officials are preparing for a formal mutual evaluation of the country's controls.
Raslan described that evaluation as a national obligation requiring readiness, coordination, and sustained implementation, and welcomed a proposed revision to the international statement on jurisdictions listed in the cooperation review process, which includes Syria.