The Popular Credit Bank and Al-Haram Pyramid for Money Transfers launched an instant electronic link service on Thursday, August 19, allowing customers to make withdrawals and deposits through Al-Haram’s branch network.
The Syrian Ministry of Finance said on its official Facebook page that the service allows customers and retirees to receive their salaries and financial entitlements through Al-Haram as soon as the funds are deposited into their accounts at the Popular Credit Bank, without having to visit the bank’s branches.
The ministry said the service was launched as part of efforts to strengthen cooperation between the public and private sectors, develop financial services and make them easier for customers to access, enabling them to complete financial transactions more quickly and flexibly.
The electronic link between Al-Haram and the Popular Credit Bank was launched during a ceremony held at Al-Haram’s headquarters in the Mazzeh district of the Syrian capital, Damascus.
Link Approved by Central Bank
Syrian Finance Minister Mohammed Yisr Barnieh said on his personal Facebook page that the electronic link between the Popular Credit Bank and Al-Haram for Money Transfers had received approval from the Central Bank of Syria.
Barnieh said the link would help expand access to the bank’s services across more areas and segments of society through Al-Haram branches, particularly allowing retirees to collect their salaries through the company’s branches across Syria.
The Syrian minister said improving services for retirees was a major priority for the ministry and that it was continuously working to find solutions serving that goal.
He encouraged partnerships between financial and banking institutions to provide new services and solutions that benefit the economy and citizens.
Barnieh added that the goal is for financial and banking institutions to compete in:
- Stimulating the Syrian economy.
- Improving financial services.
- Providing products and facilities based on modern financial technologies and innovations, improving services for citizens.
Al-Haram: Fees on Linked Services
Mohammad Salameh, CEO of Al-Haram for Money Transfers, told Enab Baladi that the fees charged by the company for providing Popular Credit Bank services through its branches across Syria’s governorates are fixed fees that were previously approved by Syria’s Telecommunications and Postal Regulatory Authority.
Salameh said the regulatory authority had previously issued a decision imposing fees according to the financial brackets set for beneficiaries of the services provided.
In a related development, Al-Haram’s CEO said electronic integration and joint services with the Commercial Bank of Syria are currently suspended.
Salameh said the suspension came from the management of the Commercial Bank of Syria, without providing further details about the reasons or when the service might resume.
The maximum approved cash withdrawal fee charged by exchange and money transfer companies and their agents in Syria is 3 per thousand, or 0.003, while the maximum deposit fee is 2 per thousand, or 0.002.
Companies may charge fees below these maximum rates. Digital payment platforms such as Sham Cash do not receive any share of these fees, which go entirely to the company providing the service to cover its operating costs.
Asi: Real Estate Bank Obstructed Network Integration
Al-Haram Board Chairman Fuad Asi said in March 2025, in comments to the state-run al-Thawra newspaper before the link between Al-Haram and the Commercial Bank was suspended, that the electronic integration agreement between the company and the Commercial Bank of Syria had been reactivated. Holders of ATM cards issued by the bank could visit any Al-Haram branch in any governorate to make withdrawals or transfers to and from their bank cards.
He said, “This service stopped at the dawn of liberation and has now resumed to ease citizens’ hardship, facilitating their access to salaries and financial entitlements, and reducing congestion at ATMs.”
Asked whether the measure could be expanded to include the Real Estate Bank, Asi said Al-Haram wanted to establish electronic links with various banks, had advanced infrastructure and kept pace with electronic mechanisms. He described the move as necessary and important, particularly with the launch of a free economy and the expansion of partnerships and roles between the public and private sectors.
He said the company had approached the Real Estate Bank more than once to sign the same agreement but had encountered what he described at the time as inflexible bank management that obstructed the agreement.
Asi added that the company intended to propose the agreement again to the bank’s new management, expressing hope that it would follow the Commercial Bank’s example, particularly given the urgent need for additional outlets to reduce congestion and make it easier for citizens to receive their salaries.