Syria to boost digital payments through Mastercard pact

JEDDAH, Sept 24 (Arab News): Syria is set to modernize its digital payments system after its central bank signed a memorandum of understanding with Mastercard, marking a major step toward reintegration into the global financial ecosystem.
The agreement aims to expand access to financial services for millions of Syrians by aligning local banks and financial institutions with international standards. The partnership also includes training programs and technical exchanges to build domestic expertise in digital payments, according to a press release.
The partnership between Mastercard and the Central Bank of Syria is a key step toward strengthening the country's financial system and broadening digital payment services.
This comes as Syria's economy shows early signs of recovery after more than a decade of civil conflict, sanctions, and international isolation, driven by efforts to modernize infrastructure and attract strategic partnerships.