The Central Bank of Syria and QNB Group have announced the launch of the country’s first locally issued electronic payment card that can also be used abroad. The project is being implemented through QNB Syria in cooperation with Mastercard. According to the central bank, the launch took place in the presence of Governor Muhammad Safwat Raslan. The system was reconnected to Mastercard, and the first domestic transaction in more than 15 years using an international card from the payment network was completed. This marks a shift in Syria’s payment system from simply accepting foreign cards to issuing its own cards linked to global networks.
QNB explained that the new card will allow eligible QNB Syria customers to make secure payments abroad and use Mastercard’s global network. The first payment made with the newly issued card was successfully processed through an international POS terminal. The bank will introduce the card gradually and cautiously, depending on operational readiness, compliance with regulatory requirements, and the receipt of approvals. However, the announcement did not disclose the terms available to customers, fee levels, supported currencies, or spending and cash-withdrawal limits.
Central Bank Governor Muhammad Safwat Raslan described the issuance of a local card with international capabilities as an important step toward expanding access to digital banking services. He said it strengthens the connection between the banking and cash sectors and enables individuals and companies to use modern payment tools. The initiative also supports economic activity and the development of Syria’s payment system.
The latest announcement represents the second stage in the Syrian market’s return to global payments. In May, QNB announced the launch in Syria of services for accepting international payment cards and digital solutions. On August 26, the group announced the completion of the first full international transaction using a foreign Mastercard card at a QNB Syria terminal. The transaction included authorization, settlement, and the transfer of funds to the merchant through the banking system. At the time, eligible merchants—including government entities, hotels and tourism businesses, and retailers—gained the ability to accept international Mastercard cards through POS terminals, and the list of participating businesses is gradually expanding.
The new step expands the service in the opposite direction. The system is no longer limited to foreign visitors and overseas cardholders making payments inside Syria: eligible QNB Syria customers will be able to receive locally issued cards and use them through the Mastercard network outside the country. Khaled Ahmed Al-Sada, chairman of the board of QNB Syria, said that customers and companies in the country were gaining access to international payment services for the first time in more than 15 years. According to him, this includes both accepting cards issued abroad and using QNB Syria cards with international capabilities.
These steps are based on Decision No. 259, adopted by the board of the Central Bank of Syria on May 4. It authorized licensed banks and electronic payment companies to work with global payment systems and companies to provide electronic payment services. The regulatory framework covers licensing, compliance, settlements, cybersecurity, and data protection. The cooperation is not limited to a single company and allows connection to various international and regional payment networks that comply with central bank rules. The foundation for this was a memorandum of understanding signed by Mastercard and the Central Bank in September 2025, aimed at developing national payment infrastructure, integration, and financial inclusion. The central bank is working along two tracks: developing national payment infrastructure and reconnecting the banking and cash sectors to global networks in order to reduce dependence on cash.
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- What is QNB Syria, and how is it connected to Qatar’s QNB Group? — QNB Syria is a Syrian commercial bank and a subsidiary of Qatar National Bank (QNB), one of the largest banks in the Middle East, headquartered in Doha. QNB Group owns a controlling stake in QNB Syria, so the bank operates in Syria as part of its international network while complying with local regulations and the rules of the Central Bank of Syria.
- Why was Syria disconnected from international card systems for more than 15 years, and what sanctions or events contributed to this? — The main reason was international sanctions and isolation following the outbreak of the conflict in 2011. The United States imposed sanctions on the Syrian government, the Central Bank of Syria, and key banks, including the Commercial Bank of Syria. Sanctions were also imposed by the European Union and the Arab League, as well as under the Caesar Act of 2019. Visa and Mastercard, as US companies, stopped servicing transactions in Syria because of the risk of violating US sanctions; SWIFT and correspondent banks also restricted their ties. As a result, international cards did not work in the country for more than 15 years.
- How heavily do Syria’s economy and everyday transactions depend on cash, and what obstacles hinder the widespread adoption of bank cards? — Very heavily: most everyday transactions, salaries, trade, and transfers are conducted in cash, including foreign currency, because of distrust in banks, inflation, and the destruction of financial infrastructure. The widespread adoption of cards is hindered by sanctions and compliance risks, the lack of correspondent banking relationships, a shortage of ATMs and POS terminals, disruptions to electricity and internet services, low financial literacy, high inflation, currency restrictions, and the dominance of the informal economy.
Full version: Syria Launches First Locally Issued Card for International Use