Mastercard Advances Return of Card Services to Syria

(MENAFN) Mastercard, among the world’s largest global payment networks, has finalized the technical steps needed to enable international bank card transactions within Syria.

According to a news agency, this marks the first initiative of its kind in over 15 years. The development is being described as a significant milestone in reconnecting the country to global financial systems.

Citing the company, the news agency reported that the initiative “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.” The move is viewed as part of broader efforts to update and integrate Syria’s financial infrastructure with international standards.

Central Bank Governor Abdelkader Husrieh stated that this progress would deliver “a strong boost” to the national economy and assist in drawing foreign investment.

He also noted that it would open up new possibilities for both businesses and individuals, allow users to access digital payment tools, improve payment acceptance systems, and establish more efficient channels for remittances from Syrians abroad.

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

He further explained that completing technical readiness represents “an essential step toward strengthening digital financial infrastructure and expanding access to secure financial services,” reaffirming Mastercard’s commitment to financial inclusion, according to the news agency.

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