In an effort to ease ATM congestion and facilitate cash access for citizens, the Syrian Commercial Bank has increased the weekly withdrawal limit at its ATMs to 500,000 Syrian pounds.
According to Wasim Ali, the bank’s Director of Electronic Payments, customers can now withdraw the full 500,000 SYP in a single transaction once per week, compared to the previous daily limit of 200,000 SYP. Additionally, the same amount can be withdrawn through POS devices, while those requiring larger sums can request cash withdrawals of up to 1 million SYP at bank branches.
Military Pension Disbursement and Banking Challenges
In parallel, Mashhour Mohammad Al-Zoubi, Director-General of the Public Institution for Pensions and Insurance, confirmed that March pensions for retired military personnel and eligible beneficiaries will be distributed in the coming week. The allocated pension fund stands at 31 billion SYP, covering 188,889 retirees and beneficiaries whose entitlements date back to before 2011. However, pensions for January and February remain pending and will be processed at a later date.
While retirees primarily access their pensions through Syrian Commercial and Real Estate Bank ATMs, they often encounter challenges due to frequent ATM malfunctions or cash shortages.
To mitigate these issues, the Ministry of Finance has extended working hours for all public sector banks, pushing closing time to 4:00 PM daily. Additionally, the Syrian Commercial Bank has pledged to replenish ATMs until 4:30 PM to ensure continuous service.
Enhancing ATM Infrastructure and Service Accessibility
To improve cash access, the Syrian Commercial Bank has launched a tender for ATM maintenance and repair services, with bids open until March 20.
Currently, the bank operates 385 ATMs across cities and rural areas, though cash availability remains contingent on technical capabilities and power supply, Ali explained. As part of its efforts to alleviate congestion, the bank has inaugurated a new ATM hall at its General Administration building in Damascus, with plans to establish similar facilities in other branches.
Additionally, the interbank payment link between the Syrian Commercial and Real Estate Banks has been reinstated following a brief suspension for financial settlements. This integration enables customers from both banks to withdraw cash from any of the 600 ATMs operated by the two institutions, as well as from hundreds of POS devices spread across public sector banks and post office branches nationwide.
These measures reflect ongoing efforts to streamline financial transactions and improve banking accessibility, ensuring more efficient cash flow management amid Syria’s economic challenges.
This article was translated and edited by The Syrian Observer. The Syrian Observer has not verified the content of this story. Responsibility for the information and views set out in this article lies entirely with the author.
