Central Bank of Syria - Infrastructure Projects
Mission and Objectives
The objective of the project is to provide the central Bank of Syria with technical advice on its modernization program. The Central Bank has several technology implementation under use; The Bank’s internal systems, bank's business processes, and the National Infrastructure Project:
( see projects that the Central bank has undertaken since 1989 )
The development of a national infrastructure approach is to provide a reliable, secure and integrated payment, clearing and settlement system that meets the needs of the changing and growing economy, thereby
· improving transaction processing efficiency;
· improving convenience to end-users; and
· reducing float and speeding up the circulation of funds.
As part of the initiatives by the Government and the Central Bank to modernize the Syrian financial industry, the Central bank is implementing now the following activities.
1) Establish a national clearinghouse for inter-bank and international settlement;
2) Establish an infrastructure for an electronic payment and settlement system;
3) Establish a national credit information bureau to warehouse information on bad debt;
4) Establish a division to monitor for money laundering activities.
5) Establish a division for handling the development of a national stock exchange operation (bourse)
1 – National Infrastructure Information Network:
The National Infrastructure Project is under consideration and needs to update its components according to the latest innovation related to the conception of the Wide Area Network (WAN) section as well as to the Local Area Networks (LANs) in all Central Bank’s Branches.
- Project Activities
The project activities were organized into the following two phases:
· Wide Area Network - WAN
· Local Area Network - LAN
A) Wide Area Network - WAN
The Information Network Infrastructure related to the wide area which connects the central Bank with:
1- The Central Bank branches in the following department: Aleppo, Tartous, Homs, Lattakia, Deir El Zor, Daraa, Suwaidaa, Hama, Hasaka, Idleb and Rakka.
2- The headquarter of the specialized banks in Damascus:
- Commercial Bank of Syria
- Cooperative Agricultural Bank
- Real Estate Bank
- Industrial Bank
- Popular Loaning Bank
- Post Office Savings Fund
The Information Network Infrastructure related to the wide area which connects the central Bank with all Banks operating in Syria