- Mastercard has signed a Memorandum of Understanding (MoU) with the Central Bank of Syria to develop national payment systems.
- The partnership aims to enhance financial inclusion and build local expertise through training and knowledge transfer.
- The agreement represents a foundational step toward future programs, including technical workshops and joint initiatives to support the Syrian economy.
Mastercard announced the signing of a historic Memorandum of Understanding (MoU) with the Central Bank of Syria to collaborate on developing the country’s national payment infrastructure— a milestone that underscores both parties’ commitment to advancing digital payments and promoting financial inclusion.
This strategic partnership focuses on exploring opportunities to expand access to essential financial services for millions of people in line with global best practices, while also supporting greater integration among banks and financial institutions within Syria. It will further contribute to knowledge transfer through tailored training and technical exchanges to build local expertise in digital payments and fintech.
On this occasion, Dr. Abdulkader Husrieh, Governor of the Central Bank of Syria, stated:
“Mastercard, with its extensive global network, advanced technological solutions, and deep expertise in the payments sector, represents one of our most important strategic partners in building a strong financial system. The signing of this MoU establishes a collaborative framework for sharing expertise, strengthening payment infrastructure in Syria, and advancing our efforts to expand financial inclusion—thereby empowering the Syrian economy and business community.”
Adam Jones, Regional President for West Arabia at Mastercard, added:
“This MoU reflects our belief that building inclusive financial ecosystems relies on partnership, innovation, and local engagement. We are pleased to collaborate with the Central Bank of Syria and the Syrian government to explore opportunities to develop a payments system that serves both local citizens and international travelers, opening wider access to the global payments landscape for the Syrian people.”
It is worth noting that the MoU serves as an initial framework for cooperation, primarily aimed at sharing expertise and exploring best practices in digital payments. Future steps will build on this agreement, including training programs, technical workshops, and joint initiatives, paving the way for broader partnerships that benefit individuals, businesses, and Syria’s economic development.
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