The Central Bank of Syria issued a decision allowing local banks and electronic payment companies to work with global payment firms such as Visa and Mastercard.
Central Bank Governor Abdulkader Husrieh said the decision, issued on Monday, May 4, allows licensed banks and electronic payment companies operating in Syria to work with international payment companies.
He added that the decision marks an important step toward modernizing Syria’s financial sector.
According to Husrieh, in a post on his Facebook page, the decision opens the door to a new phase in developing payment systems and strengthens the integration of the Syrian market into the global financial system after years of reliance on traditional and limited tools.
The decision also allows local banks and payment companies to expand the scope of their services to include more advanced and secure payment solutions for individuals and companies.
Use of International Bank Cards in Syria
Husrieh said the main benefits of the decision include:
Cooperation with global networks will also help transfer modern expertise and technologies to the local market, positively affecting the efficiency and competitiveness of the financial sector, according to Husrieh.
He noted that the decision represents a strategic step toward a more advanced and inclusive digital economy, while facilitating fund transfers and payments for Syrians inside the country and abroad.
Network Integration with Mastercard and Visa
This process began with the Central Bank of Syria’s announcement in recent months that it had settled several foreign banking relationships, most recently with Austrian and French banks, alongside work to reactivate the SWIFT system and preparations to reconnect with global financial networks.
A banking source familiar with the matter, who requested anonymity for administrative reasons, previously told Enab Baladi that the Central Bank was continuing work on network integration with Mastercard and Visa. The aim is to enable international cards to operate through Syrian banks and allow electronic payment services and cross-border transfers to function more regularly.
The source said the connection with the two companies is expected to become operational by the end of May, marking an important step toward reintegrating Syria’s banking sector into the global financial system.
According to the same source, the success of this integration would facilitate payment operations for traders and importers, improve transfer services for Syrians abroad, and reduce reliance on cash transactions. It would also give operating banks new tools to expand their electronic services.
In December 2025, the Central Bank of Syria announced an agreement with Visa on a roadmap to build a modern digital payments system and strengthen financial inclusion in Syria.
In September 2025, the Central Bank also signed a memorandum of understanding with Mastercard International to cooperate on developing Syria’s digital payments system by improving digital payment infrastructure, exchanging expertise, promoting financial inclusion, and exploring opportunities to expand access to basic financial services for millions of people.
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