Syrian and Turkish Central Banks Discuss Joint Account and Payment System Development

Context of the Visit

The Central Bank of Syria received a technical delegation from the Central Bank of Turkey on Tuesday, as part of an ongoing cooperation process aimed at following up on outcomes from previous official meetings. The Syrian central bank stated in an official communiqué that the visit seeks to translate shared understandings into concrete practical steps.

Payment Systems and Financial Infrastructure

Discussions covered ways to develop and modernise payment systems and financial infrastructure, as well as mechanisms for technical integration between the systems used by both institutions. The cooperation aims to improve the efficiency of payment and financial settlement services in line with internationally recognised practices.

Opening a Joint Interbank Account

The two delegations examined the technical aspects of opening a banking account between the two central banks. The move is intended to strengthen bilateral banking relations and facilitate financial transactions linked to trade exchange and economic cooperation between Syria and Turkey, within applicable legal and regulatory frameworks.

Digital Transformation and Capacity Building

The agenda also included digital transformation and information security, with both sides agreeing to exchange technical expertise and build institutional capacity within the financial and banking sector. The Central Bank of Syria noted that these efforts support the broader modernisation of the Syrian banking system according to international standards.

Deepening Institutional Integration

The Central Bank of Syria affirmed that the meeting forms part of joint efforts to strengthen institutional cooperation with its Turkish counterpart and to expand the scope of technical integration between the two sides in ways that serve the long-term economic interests of both countries.