Damascus, Dec. 5 (SANA) Syria’s Central Bank has announced a strategic partnership with Visa to accelerate the country’s integration into the global digital economy.
The agreement, formalized during a meeting at the Central Bank Thursday, focuses on building a secure payments infrastructure with licensed financial institutions. Initiatives include issuing payment cards and enabling digital wallets that meet international standards, ensuring operational readiness for global interoperability.
Visa will also help merchants accept payments using low-cost, open solutions such as Tap to Phone and QR codes. The program aims to expand access for startups, microenterprises, SMEs, and larger companies, supporting full participation in the digital economy and fostering job creation.
As part of the initiative, Visa will invest in capacity-building programs, develop local talent, and assist entrepreneurs in creating and scaling innovative payment solutions, connecting them with Visa’s regional and global fintech partners.
CBS Governor Abdulkader Husrieh described the partnership as a “clear path to modernization, transparency, and economic recovery,” calling it a new chapter of hope and opportunity for Syria’s economy.
Leila Serhan, Visa’s Senior Vice President for North Africa, the Levant, and Pakistan, said reliable and transparent payments systems are essential for economic recovery and attracting investment. She added that the initiative allows Syria to leapfrog outdated infrastructure and adopt modern, secure payment platforms.
The move follows earlier discussions between CBS and Visa executives in Washington, as well as a memorandum of understanding with Mastercard in September to develop Syria’s digital payments ecosystem and enhance financial inclusion.
