President
Based on the Constitution

It was approved by the People's Assembly at its meeting held at the date of 5-5-1433 A.H., 28-3-2012.
The following are issued:

Article ( 1)

a. Establish in the Syrian Arab Republic a foolish contribution company with the State represented in the public treasury, in all its shares, in accordance with the provisions of the Companies Act. Legislative Decree No. 29 of 2011 In particular article 6, item 3, of the Convention.
b. The company is called the Syrian Electronic Payments Company.
c. The purpose of the company is to establish the necessary infrastructure for electronic payment services and to be responsible in particular for the implementation and operation of the unified national electronic payment system on economic and development grounds.
d. The Company shall operate with the state guarantee and its funds and assets shall be from the property of the Special State.
e. The Company shall be subject to the law of commerce and companies in force and their amendments in all those that have not been provided for in this Law.

Article 2

a. The Company shall manage a board of directors that selects its President and its members from specialists in the fields of informatics, administration, economy, finance and law to be natural persons of the Syrian Arab nationality campaign.
b. The President and members of the Governing Council shall be appointed by decision of the Council of Ministers upon nomination by the General Authority of the Company and shall be awarded compensation and remuneration by the Public Authority.

Article 3

The General Authority of the Company represents the Syrian Arab Republic in its capacity as the owner and consists of:
Minister of Communication and Trade
Governor of the Central Bank of Syria
President of the company's board of directors.
A representative of the Ministry of Finance, the Ministry of Economy and Trade, the Planning and International Cooperation Organization and the Central Financial Supervisory Service are selected by the Council of Ministers to be less than the rank of associate minister, general manager or central manager.

Article 4

To be issued with decisions of the Cabinet:
1. The statute of the company and determines the purpose, functions, capital and manner of payment of the company.
2. The working system and employees of the company in conformity with the applicable labour law.
3. Financial regulations, accounting and contract system of the company.

Article 5

Part of the Company's shares may be sold, traded or put to public subscription with the approval of the Council of Ministers upon the proposal of the extraordinary public body, at which time the statute of the company is amended, especially with regard to the composition of the public body and the board of directors in a manner that corresponds to the proportions of the company. Contribution to capital.

Article 6

The Company's work is subject to control by the Cabinet, the Ministry of Finance and the Ministry of Economy and Trade in respect of the implementation of the provisions of the law on trade and the companies in force.

Article 7

The Ministry of Communications and the Ministry of Communications is tasked with completing the establishment procedures and the transactions of the month and registration of the company in accordance with the provisions of the law of the companies in force.

Article 8

This law is published in the Official Journal.
Damascus at 6-5-1433 A.H., 29-3-2012, my birth.

President
Bashar al-Assad

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