Syrian Arab Republic

Summary

• Syria Payment QR platform launched
• Syriatel Cash mobile money service
• MTN Pay 45% of e-payments by 2023
• Cash-dominated economy
• Conflict-affected infrastructure

Banking landscape

Central Bank

• Name: Central Bank of Syria (CBS)
• Website: https://www.cb.gov.sy/
• Role: Monetary policy, banking oversight

Major Banks (2024)

Rank	Bank Name	Type	Digital Platform
1	Commercial Bank of Syria	State	Limited
2	Syria International Islamic Bank	Private	SIIB Mobile
3	Byblos Bank Syria	Private	Byblos App
4	Bank of Syria and Overseas	Private	BSO Mobile
5	Banque Bemo Saudi Fransi	Private	BBSF App

Market Structure

• State-dominated: Public banks primary
• Private sector: Limited operations
• Conflict impact: Infrastructure damage
• Cash economy: Dominant payment method

---

Payment infrastructure

National Payment Systems

System	Operator	Type	Status
Syria Payment	Platform	QR payments	Active
Syriatel Cash	Syriatel	Mobile money	Active
MTN Pay	MTN Syria	Mobile money	Active

Mobile Money Statistics

• MTN Pay: 45% of e-payments (2023)
• Syriatel Cash: Major operator
• Growing adoption: Despite challenges

Infrastructure Challenges

• Conflict damage
• Sanctions impact
• Currency instability
• Limited connectivity

---

QR code standards

Syria Payment QR

Attribute	Value
Operator	Syria Payment
Type	QR platform
Status	Active
Features	Merchant payments

QR Payment Features

• Merchant payments
• Bill payments
• Mobile integration
• Growing network

Mobile Money QR

• Syriatel Cash QR
• MTN Pay QR
• Wallet-to-wallet
• Merchant acceptance

Adoption Challenges

• Infrastructure limitations
• Security concerns
• Currency volatility
• Limited merchant network

---

Mobile payment apps

App	Provider	QR	Features
Syriatel Cash	Syriatel	Yes	Mobile money
MTN Pay	MTN Syria	Yes	E-wallet
Bank Apps	Various	Limited	Banking

Syriatel Cash

• Mobile money service
• QR payments
• Bill payments
• Airtime top-up
• Money transfers

MTN Pay

• 45% of e-payments
• QR code support
• Merchant payments
• P2P transfers
• Utility payments

Banking Apps

• Limited functionality
• Basic transfers
• Account management
• Security constraints

---

Schemes

Scheme	Type	Symbology	Adoption	Technical standard
Syria Payment QR	QR	Platform	Growing	syria-payment-qr
MTN Pay	Mobile money	Telco	45% share	mtn-pay
Syriatel Cash	Mobile money	Telco	Active	—

Sources

• Central Bank of Syria - Regulations
• MTN Syria - MTN Pay services
• Syriatel - Cash services
• Syria Payment - QR platform
• Academic research - Syrian banking
• News reports - Payment developments
• Regional analysis - Middle East payments
• UN agencies - Economic reports

Full country report

SY-syria.md