Pakistan, Aug. 10 -- The World Bank has approved a $100 million grant to help Syria modernise its financial sector. The funding comes through the International Development Association. It will support a project designed to create a safer and more digital financial system. The World Bank said the project will improve transaction security, efficiency and transparency. It will also expand access to financial services across Syria.

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Syria's financial sector currently faces several major challenges. The country relies heavily on cash for financial transactions. Financial intermediation also remains limited, while digital payment systems require significant upgrades. These problems incre...