New York, Oct. 3 (SANA) Syrian Finance Minister Mohammed Yisr Barnieh and Central Bank of Syria Governor Mohammad Safwat Raslan met Mastercard Chief Executive Michael Miebach in New York to discuss expanding digital payments and modernizing government financial services.
The meeting, held Friday at Mastercard’s headquarters, included senior company executives and focused on technologies that could support Syria’s efforts to reduce reliance on cash and expand its digital financial infrastructure.
Barnieh outlined the Finance Ministry’s plans to modernize financial administration and government financial services, including digital collection of taxes and fees, government procurement and payments, and salary and wage disbursements.
The ministry said greater use of electronic payments was intended to improve efficiency and speed up transactions while strengthening financial integrity and reducing opportunities for corruption and financial crime in government transactions.
The talks build on a series of agreements and technical steps between Syria and Mastercard aimed at restoring international electronic payment services after an interruption of more than 15 years.
The Central Bank of Syria signed a memorandum of understanding with Mastercard in September 2025 to develop the country’s digital payments infrastructure, exchange technical expertise and expand financial inclusion.
The agreement provided a framework for integrating Syrian banks and other financial institutions with payment systems operating according to international standards.
In May 2026, the Central Bank authorized licensed Syrian banks and electronic payment companies to work with international payment networks, including Mastercard and Visa.
The process moved into operation on Aug. 27, when Raslan carried out the first Mastercard payment in Syria in more than 15 years. The transaction was completed in cooperation with the Central Bank, QNB Syria and Mastercard at a local merchant, marking the transition from technical testing to the operational acceptance of international card payments.
The latest talks in New York broaden the focus from international card acceptance to the potential use of Mastercard technology across government financial operations, including taxes, fees, procurement and public-sector payments.
MHD
