Decree Adopts Digital Payments
Decision No. 1124 of 2026, issued by the General Secretariat of the Presidency, has adopted a national electronic payment and digital transformation system for Syria. The measure establishes a legal basis for modernizing how money moves between citizens, businesses and the state.
The framework does not abolish cash dealings or impose a single payment instrument. It is intended to widen payment and transfer options for individuals and companies, ease the movement of funds, and raise the overall efficiency of transactions across the economy.
Central Bank Oversight
The Central Bank of Syria said the system regulates three categories of licensed entities: payment service providers, electronic money service providers, and payment system operators. The structure is meant to support a range of financial solutions within a clear supervisory and regulatory environment.
The rules also open the sector to competition and investment through a regulatory sandbox, which allows firms to test innovative financial activities under supervision before a broader launch. Requirements for governance, risk management, cybersecurity and user protection are embedded in the system.
Cross-Border Ambitions
The central bank noted that the framework prepares Syria's financial infrastructure to integrate with regional and international payment systems, in line with recognized legal, technical and commercial requirements. It stressed that this does not make international links or cross-border transfers immediately available.
Conditions for Success
Economic analysts said the transition could relieve pressure on cash liquidity, broaden financial inclusion through electronic wallets, cut the cost of circulating banknotes, and generate clearer records of financial flows that may help shrink the informal economy.
They added that the outcome depends on reliable internet and electricity, a wider spread of point-of-sale terminals across shops and services, robust cybersecurity and data protection, identity-verification and anti-money-laundering procedures, and clear legislation defining how payment companies operate and safeguarding user rights.