The Ministry of Finance, the Central Bank of Syria, Syrian Post, and the Syrian Commercial Bank announced, on Wednesday, August 13, new measures aimed at easing access to monthly pensions and entitlements for retirees—either through ATMs or point-of-sale (POS) terminals in post offices across Syrian governorates.
The Syrian Commercial Bank announced on its Facebook page that it is raising the daily withdrawal limit via POS terminals in all its branches to 1 million SYP (around 100 USD), effective tomorrow, Thursday. This will allow retirees to withdraw their full pension in one transaction following the recent salary increase.
The bank stated: “A set of immediate measures has been taken to facilitate the salary disbursement process and reduce the burdens on retirees, coordinated with the Syrian Central Bank.”
ATMs in branches of both the Commercial and Real Estate Banks have seen heavy crowds of retirees in recent days seeking to withdraw their pensions, particularly those branches located near the governorate square in Damascus.
Syria Central Bank’s measures include extended ATM operating hours to ensure uninterrupted service and avoid disruptions; allowing customers to withdraw weekly amounts up to 600,000 SYP (around 60 USD); and increasing branch-level cash allocations to guarantee full and on-time pension payments.
The bank also urged retirees who have not yet converted their pensions to bank cards to request the transfer to ATM cards so they can benefit from the new withdrawal limit and available electronic services.
Additionally, the Ministry of Finance announced today, via its Telegram channel, that to facilitate pension disbursement, the Syrian Commercial Bank has increased its daily withdrawal limit to 1 million SYP and extended ATM operating hours, supported by the Ministry and the Syrian Central Bank.
Increasing Liquidity for Banks and Post Offices
A meeting was held today at the Syrian Central Bank, chaired by Governor Abdul Qader Hasriyeh, alongside his deputies and the managers of Syria’s Commercial and Real Estate banks, Syrian Post, the Social Insurance Corporation, and the Public Pension and Retirement Corporation, to discuss accelerating pension payments to retirees.
The meeting concluded with the following decisions:
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Pension payments should be transferred regularly and in phases, with coordination with the Ministry of Finance to take necessary steps to commence disbursement to retirees.
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Syria Central Bank will deliver large cash allocations in advance to banks and the Post Office, enabling them to fund payouts without interruption.
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Banks will implement procedures enabling retirees to receive their full monthly pension in a single payment on the same day.
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Banks and the Post Office will connect to allow more outlets and POS terminals in post offices, reducing congestion.
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The Commercial and Real Estate banks have been instructed to ensure ATMs remain online and are replenished multiple times per day.
Governor Hasriyeh also met with Syrian Post director Emad Alden Hamad to explore ways to alleviate burdens for retirees who receive payments via ATMs. They agreed to activate POS terminals at post offices across all governorates as retirement payment points within a set timeframe, supplying them with sufficient liquidity to meet demand—an announcement will follow once preparations are complete.
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