Syria opens the gateway to dealing with global payment networks Visa and Mastercard
On Monday, May 4, 2026, the Governor of the Central Bank of Syria, Abdul Qader Al-Hasriya, issued a decision allowing banking financial institutions and licensed electronic payment companies operating inside the country to deal with global payment networks such as Visa and Mastercard.
In a post on his personal Facebook page, Al-Hasriyah described the decision bearing the number 259/LA as a "qualitative step" towards modernizing the financial sector in Syria and represents a "strategic shift" in the structure of local payment systems , as it opens the door to the integration of the Syrian market into the global financial system after years of reliance on limited traditional instruments.
The new decision allows local banks and payment companies to expand their services to include more sophisticated and secure payment solutions for individuals and businesses alike, and allows Syrian citizens and visitors coming to the country to easily use their international banking cards inside Syria.
Exclusivity: A Strategic Step Towards a Modern Digital Economy
The Central Bank governor said the decision will enable Syrians traveling abroad to make international payments more flexibly, which will enhance the spread of electronic payment methods and reduce reliance on cash.
He explained that the decision contributes to supporting e-commerce, empowering startups, raising the level of security and reliability in financial operations, in addition to transferring modern expertise and technologies to the local market through cooperation with global networks, which enhances the efficiency and competitiveness of the financial sector.
Al-Hasriya concluded his post by saying: "Ultimately, Resolution 259/LA represents a strategic step towards a more developed and inclusive digital economy, while facilitating the movement of money and payments for Syrians inside and outside the country.
This decision follows a series of strategic understandings recently signed by the Central Bank that laid the technical and legal basis for Syria's gradual return to the global payments ecosystem. The MoUs with Visa and Mastercard formed the core pillar for building a modern digital payment architecture and connecting local banks to international networks in accordance with global compliance standards.
Memorandum of Understanding with Mastercard – September 2025
The MoU was the first step in the path of financial openness and was signed by the Governor of the Central Bank of Egypt, Abdulkader Al-Hosri, with the company's Regional President. It focused on developing the payment infrastructure in line with international security standards, and promoting financial inclusion by expanding access to digital services and reducing dependence on cash.
This partnership resulted in the first practical result in January 2026, with QNB Group Syria granting a license to issue and accept Mastercard cards locally and internationally.
Roadmap with Visa – December 2025
The agreement was announced at the Reuters Next conference, and was described as a strategic roadmap for building an integrated digital payment ecosystem.
It focused on enabling licensed banks to issue modern payment cards based on EMV and advanced encryption technologies, as well as supporting merchants through low-cost payment solutions such as QR codes and Tap to Phone technology. The partnership also aims to accelerate Syria's return to the SWIFT system and facilitate international remittances for importers and expatriates.
The Ministry of Communications and Technology (MCIT) is also working on signing complementary memorandums to develop the digital infrastructure necessary to operate these services efficiently, ensuring the readiness of national networks to accommodate the transition towards a more open digital economy.