Signing of Memorandum of Understanding between the Central Bank of Syria and the Ministry of Communications
July 6, 202530 ViewsRead Time: 1 minutes
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The Central Bank of Syria, the Ministry of Communications and Technology, signed a memorandum of understanding today, Sunday, to establish a joint working group on financial technologies, develop the necessary regulatory, legal, and technical frameworks for licensing, regulate digital financial institutions, and support innovation and investment.
The memorandum signed today at the Central Bank of Syria aims to improve the quality of digital services provided to citizens, and develop and enhance the digital financial services industry in Syria.
The memorandum includes the necessity of institutional coordination in developing the infrastructure of the digital financial sector, setting standards for cybersecurity and data protection, establishing a safe testing environment for innovative solutions while enhancing digital awareness among citizens and institutions.
The memorandum also stipulates the development of clear mechanisms for cooperation and joint coordination between the bank and the ministry in the areas of financial and technical innovation, and enhancing a secure and sustainable structure for the growth of the digital economy.
The memorandum signed today at the Central Bank of Syria aims to improve the quality of digital services provided to citizens, and develop and enhance the digital financial services industry in Syria.
The memorandum includes the necessity of institutional coordination in developing the infrastructure of the digital financial sector, setting standards for cybersecurity and data protection, establishing a safe testing environment for innovative solutions while enhancing digital awareness among citizens and institutions.
The memorandum also stipulates the development of clear mechanisms for cooperation and joint coordination between the bank and the ministry in the areas of financial and technical innovation, and enhancing a secure and sustainable structure for the growth of the digital economy.
