Syria Digital Banking Market is projected to grow at a CAGR of 5.6% from 2025 to 2031

On-premise by Deployment held the highest revenue share in Syria Digital Banking Market -6Wresearch

On-premise deployment dominates Syria digital banking landscape due to a mix of political, regulatory, and infrastructural factors. Ongoing international sanctions and compliance barriers hinder the use of foreign cloud services, compelling banks to

 retain data and infrastructure domestically. In a fragile post-conflict environment, regulators also view on-premise systems as a safer option, offering stronger oversight of sensitive financial data and minimizing perceived risks of foreign surveillance or cyber threats.

According to 6Wresearch, Syria Digital Banking Market is projected to grow at a CAGR of 5.6% from 2025 to 2031. Between 2021 and 2024, Syria digital banking market grew steadily, driven by increased internet penetration and mobile coverage reaching to more population. Growth was fueled by rising smartphone adoption, demand for convenient bill payments, and reliance on remittances. Regulatory initiatives like the 2020 launch of the Syrian Electronic Payments (SEP) platform and exploration of a digital Syrian pound (CBDC) provided a strong foundation for digital banking.

Further, commercial banks such as Arab Bank Syria and BEMO Saudi Fransi integrated mobile apps with SEP, while SamaPay expanded agent-based services into retail channels. These efforts improved consumer familiarity with digital transactions, setting the stage for scalable market growth.

The market is further supported by infrastructure projects and regulatory reforms. The SilkLink fibre-optic project, launching in May 2025, would enhance connectivity, reduce transaction failures, and support advanced services like biometric KYC and mobile banking apps. Policies mandating smart card holders to open bank accounts and introducing electronic payments at Mahrukat fuel stations will drive digital adoption.

According to Suryakant, Senior Research Analyst, 6Wresearch, Digital payments dominate Syria’s digital banking market as they directly respond to the country’s urgent financial needs by offering safe, fast, and convenient methods for money transfers in a fragile, cash-dependent economy. Prolonged conflict and persistent currency instability have heightened concerns over holding physical cash, driving greater reliance on mobile wallets, peer-to-peer transfers, and digital bill payment solutions.

Syria Digital Banking Market (2025-2031) report provides an in-depth analysis with 20 figures and 7 tables, covered in 71 pages. The report thoroughly covers the market by services, deployment type, technology and industries. The Syria Digital Banking Market outlook report provides an unbiased and detailed analysis of the ongoing trends, opportunities/high growth areas, and market drivers, which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.