Syria Adopts National Electronic Payment System Under Presidential Decision 1124

The Decision and Its Official Framework

The Central Bank of Syria announced the issuance of Decision 1124 by the General Secretariat of the Presidency of the Syrian Arab Republic, adopting a national electronic payment and digital transformation system. The bank's Media and Communication Department disclosed the details in a statement to SANA on 18 August 2026.

Objectives and Operating Mechanisms

The system aims to develop and activate a modern national payment infrastructure, broadening payment and transfer options for citizens and the business sector while improving the efficiency of financial flows. The Central Bank clarified that the system does not eliminate cash transactions or mandate any specific payment method; it introduces additional options alongside cash.

The system establishes the regulatory and technical foundations for linking payment services across financial institutions through a licensing and oversight framework covering three main categories of operators:

• Payment service providers
• Electronic money service providers
• Payment system operators

Investment and Innovation Opportunities

The Central Bank stated that the system opens the financial and technology services sector to innovation, competition, and investment. A key feature is a regulatory sandbox that allows innovative financial activities and solutions to be tested in a supervised environment before wider deployment, providing a defined entry pathway for companies seeking to operate in this sector.

Governance and Cybersecurity Standards

The system enshrines requirements covering governance, oversight, risk management, cybersecurity, and user protection, with the aim of strengthening the integrity of financial transactions and confidence in digital services. The Central Bank also noted that the system lays the groundwork for integrating Syria's financial infrastructure with regional and international payment networks in accordance with applicable legal, technical, and commercial requirements, while specifying that this does not mean immediate activation of international transfers or connectivity.

Prior Steps in Financial Modernisation

Decision 1124 follows an earlier measure issued by the Central Bank in May, which permitted licensed banking institutions and electronic payment companies operating inside the country to transact with global payment networks including Visa and Mastercard.