The Central issues decisions related to the electronic payment system
According to a decision from the Central Bank, “The issuance of prepaid electronic payment tools is limited to financial banking institutions and not to others. It is entitled to issue the tool in the event that there are services and electronic payment channels that accept their use, whether they are for the institution itself or others. They are also entitled to issue the tool at the request of the customer who has a bank account To be an exclusively natural person. ”
Another decision issued by the Central includes the adoption of the explanatory guide to Cabinet Resolution No. 52 of 2019, which includes licensing instructions for electronic payment companies, and it allows the central bank to license to establish Syrian companies operating in the field of electronic payment in cooperation with operating banks and social banking financial institutions.
The decision shows that the draft statute for the electronic payment company must include the type of company to be limited liability or anonymous contribution and its duration not be less than 15 years and that its purpose is limited to the field of electronic payment services activity according to the decisions of the Monetary and Credit Council and the Central Bank of Syria and its capital should not be less than two hundred and fifty million Syrian Pound.
The Council of Ministers decided in a session last month to adopt the mechanism for the start of the Syrian company for electronic payments in coordination with the relevant ministries and the Central Bank of Syria by electronic bills in the specified institutions during the first quarter of this year and to start communication bills and services of transport directorates in the first place, provided that the work is evaluated periodically through To the best formula for entering the entire system to work gradually.
