Fintech & payments regulation in Syria (2026)

Legal framework

Central Bank of Syria (CBS), Payment Systems Directorate licenses 'electronic payment and collection services companies' under CBS regulations, supported by sectoral laws (Banking Secrecy Law, AML/CFT Law, Electronic Transactions Law, Electronic Signature Law, Electronic Crime Law).

Key points: digital payments & fintech in Syria

1. 01Regulator & licensing authority

   The Central Bank of Syria, through its Payment Systems Directorate, licenses and supervises electronic payment companies and develops the operational and regulatory instructions for electronic payment and financial technologies.

   cb.gov.sy cb.gov.sy

2. 02Licensing requirements

   Applicants must specify the electronic payment/collection services in their articles of association; any new service needs prior CBS approval. The initial license approval can be revoked if registration is not completed within one year, and operations remain under continuous CBS supervision.

   cb.gov.sy cb.gov.sy

3. 03Applicable legal framework

   Licensed payment firms are subject to the Banking Secrecy Law, the Anti-Money Laundering and Counter-Terrorism Financing Law, the Electronic Transactions Law, the Electronic Signature Law, the Network Services Law, and the Electronic Crime Law.

   cb.gov.sy

4. 04Operating market (mobile money)

   Mobile operators Syriatel and MTN launched e-payment services (Syriatel Cash, MTN Pay) in May 2021; their combined share of e-payments to public entities rose to over 45% of such payments by 2023, alongside the Syrian Electronic Payment Company (SEP).

   tandfonline.com syriatel.sy

5. 052026 opening to global networks

   On 4 May 2026 the CBS issued a decision permitting licensed banks and electronic payment companies to deal directly with global networks such as Visa and Mastercard; live trials began 9 May 2026, ending ~15 years without those cards, alongside a domestic 'Paymera' network.

   sana.sy english.aawsat.com english.enabbaladi.net

6. 06Ongoing modernization & gaps

   CBS signed an MoU with Mastercard (Sept 2025) and a digital-payments roadmap with Visa (Dec 2025), and in April 2026 was studying broader bank powers and currency/infrastructure reform. No dedicated open-banking or BNPL regime is evident yet; these remain to be built out.

   aa.com.tr mena-fintech.org english.enabbaladi.net

Sources

1. 1.cb.gov.sy/index.php?page=show&ex=2&dir=items&Ser=&cat_id=624&lang=2
2. 2.cb.gov.sy/index.php?page=dept&ex=2&dir=councils&lang=2&service=5&cat_id=53
3. 3.cb.gov.sy/index.php?page=show&ex=2&dir=items&ex=2&ser=1&lang=2&cat_id=1352
4. 4.sana.sy/en/economic/2314470/
5. 5.english.aawsat.com/business/5269517-syrian-central-bank-allows-dealings-global-electroni
6. 6.english.enabbaladi.net/archives/2026/05/syria-tests-visa-and-mastercard-payments-after-15-ye
7. 7.english.enabbaladi.net/archives/2026/04/syrian-central-bank-eyes-wider-powers-digital-paymen
8. 8.aa.com.tr/en/economy/syrian-central-bank-inks-agreement-with-visa-for-digital-p
9. 9.mena-fintech.org/news/mastercard-and-central-bank-of-syria-launch-knowledge-sharing-ex
10. 10.tandfonline.com/doi/pdf/10.1080/23311975.2024.2365998
11. 11.syriatel.sy/cash