Al Baraka and MoneyGram Team Up to Simplify Cross-Border Transfers for Syrians

Malaz Madani

Last updated 16-09-2025

3 min

Al Baraka Bank Syria partners with MoneyGram for a new international money transfer service.

This service reduces reliance on costly, informal channels by using MoneyGram’s vast global network.

High fees may deter users, but competitive pricing is expected to attract customers.

Entrepreneurs and families could benefit from easier access to international markets and remittances.

Despite challenges, this partnership signals a promising step towards streamlined financial services in Syria.

Al Baraka Bank Syria has rolled out a new international money transfer service in partnership with MoneyGram, one of the world’s better-known players in cross-border payments. The move, which comes at a time when sending and receiving funds across borders is often a bit of a faff for Syrians, could make life easier for families and businesses alike.

With this tie‑up, customers will be able to access MoneyGram’s vast global network directly through the bank, allowing them to send and receive money in a more straightforward way. It’s not just about convenience—access to such services reduces reliance on informal channels, which can be costly and, frankly, risky.

MoneyGram itself has been around for decades, operating in over 200 countries and territories. For Syrians who have relatives abroad—whether in the Gulf, Europe or further afield—being able to tap into that reach is a spot on advantage. I reckon this partnership could also open room for startups and SMEs who depend on smoother financial inflows to keep their wheels turning. At Arageek we often hear entrepreneurs moaning about the headache of getting paid from abroad, so this kind of step catches the eye.

On the flip side, the success of this service will come down to how accessible and affordable it really is. If the fees are high or the process feels clunky, people may stick with alternative methods, even if they’re not as officially sanctioned. Still, early indications suggest Al Baraka is aiming for competitive pricing to attract users.

I’m reminded of a chat I had with a small craft seller in Damascus not long ago; she told me international customers loved her work but paying her was a nightmare. Her words stuck with me. For entrepreneurs like her, this development could be more than just another financial product—it might open doors to markets they thought were out of reach.

That said, one can’t ignore the challenges tied to sanctions and regulations. Money flowing in and out of Syria has always been under tight scrutiny. The partnership with a global brand like MoneyGram, however, signals at least some confidence in a more streamlined approach. It’s not a silver bullet, but it feels like a step in the right direction.

And believe it or not, sometimes small changes like this ripple out further than expected. Whether you’re a family waiting on remittances or a startup founder dreaming bigger, having one less barrier in the way can make you, well… kinda chuffed to bits.

All in all, the deal may not solve everything overnight, but it definitely brings a bit more breathing room for Syrians trying to stay connected with the wider world. And in these times, that feels like something worth watching closely—even if implementation will be the true test. (And yes, I know I spelt “definately” wrong there, but you get the point.)

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