Syria's Electronic Payment Challenges

The article reviews Syria's efforts to transition toward electronic payments amid a fragile financial and technical situation. The Central Bank of Syria has issued a decision to enhance the regulation and services related to electronic payments, but actual implementation faces significant challenges, including outdated infrastructure, poor internet access, a lack of trust in banks, and limited digital financial literacy. Experts believe that success requires a gradual approach starting with building infrastructure, establishing regulations, and boosting public confidence. It is recommended to set timelines of 12 to 24 months to begin effectively deploying the electronic payment system, aiming to improve liquidity management, increase transparency, and develop the financial system to meet regional and international standards.

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