Subjects – Syria Report



In a major shift in the Syrian banking landscape, Banque Bemo Saudi Fransi has taken over the stakes of Lebanon’s Byblos Bank SAL in its Syrian subsidiary, Byblos Bank Syria SA, leading to BYB's official departure from the Syrian market after 19 years operating in the country.
Between February 22 and 24, around thirty Syrian entities linked to the electronic payment services field, namely banks, telecommunication companies and software companies, gathered in Aleppo to attend the First Conference and Exhibition for Electronic Payment in Syria. The conference, a first in Syria, was organised by the Syrian Computer Society, the Central Bank of Syria, and the Thiqa Company for Exhibitions and Conference.
The United States has doubled down on its Syria sanctions strategy with the passing of the ‘Assad Regime Anti-Normalization Act of 2023’ at the House of Representatives on February 14.
The Syria Report is launching a series of in-depth interviews with some of the main humanitarian and development actors in Syria. Interview with Sachitra Chitrakar, Syria Country Director for the Danish Refugee Council.  
To automate Syria’s tax system, the Syrian government has granted the private company Sama Pay LLC a contract to handle the electronic payment of taxes. Sama Pay began operations following the disruption in the banking sector brought on by the implementation of the Caesar Act in June 2020. The increasing shift towards electronic payments adopted by several state-owned companies opens substantial opportunities for E-payment companies to generate significant revenues through government-awarded contracts.


Prior to the uprising, China was a major trade partner of Syria and had investments in the country, especially in its petroleum sector. Although trade increased following the 2011 conflict, Chinese companies largely withdrew from the market.



Import-export of textile products