Mastercard prepares to launch services in Syria after 15 years

Mastercard, one of the largest payment networks globally, has completed technical procedures to process international bank card transactions inside Syria, the first step of its kind in more than 15 years, the SANA news agency said Thursday.

Citing the company, SANA said the move “paves the way for reconnecting the Syrian market to the global payments network and supports efforts to modernize the country’s banking and financial sector in line with the requirements of the global digital economy.”

Central Bank Governor Abdelkader Husrieh said the development would provide “a strong boost” to the national economy and help attract international investors.

He added that it would create new opportunities for businesses and individuals, enable customers to benefit from digital payment solutions, facilitate payment acceptance, and provide more efficient channels for money transfers from Syrians living abroad.

Adam Jones, Mastercard’s regional head for West Arabia, said the company is working with the Syrian central bank to build a “strong and secure payment ecosystem.”

He said completing the technical readiness marks “an essential step toward strengthening digital financial infrastructure and expanding access to secure financial services,” reaffirming the company’s commitment to financial inclusion, according to SANA.

The move follows a memorandum of understanding signed on Sept. 23, 2025, between the Central Bank of Syria and Mastercard to develop digital payment infrastructure and promote financial inclusion in the country.

The completion of technical preparations by a global financial company such as Mastercard reflects a significant step toward ending Syria’s financial isolation and reconnecting it to international payment systems.

Mastercard had not operated normally in Syria for years because of sanctions and restrictions imposed during the country’s civil war, although some of those restrictions were eased in phases.

Since Bashar al-Assad’s ouster in late 2024, Syria’s new administration has pursued political and economic reforms while promoting social cohesion and working to expand cooperation with regional and international partners.

*Writing by Mohammad Sio in Istanbul