Syrian central bank says lenders must expand bank accounts

Citizens need accounts to receive cash transfers as government cuts subsidies

Syria map

The Syrian central bank has told its commercial banks to stay open for longer, so citizens that do not have a bank account can create one. The move comes as the government makes the shift from food and fuel subsidies to direct cash transfers. 

The Central Bank of Syria told banks to stay open until six in the evening and continue working on Saturdays. The lengthening of hours is meant to speed up the opening of bank accounts and facilitate transfers of cash to people from the government.

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