Global payments company Visa will re-launch operations in the Central Bank of Syria (CBS) after more than a decade abroad, marking a major step in Damascus’s efforts to reconnect Syria with the global financial system. The agreement, announced in early December 2025, is part of a strategic roadmap to build a modern payments ecosystem in the war-scarred country.
Under the partnership, Visa will work with licensed Syrian financial institutions to issue payment cards and enable digital wallets that meet international standards — including EMV chips and tokenization — while also rolling out low-cost merchant payment solutions such as QR codes and “Tap-to-Phone” acceptance. According to Visa, this phased digitization effort aims to accelerate Syria’s integration into the global digital economy.
The move follows a milestone earlier in 2025, when Syrian banks performed their first direct cross-border transaction via SWIFT since the civil war, restoring international payments connectivity that had been suspended for 14 years. This step has been hailed by officials as symbolic of Syria’s reintegration into world markets.
CBS Governor Abdulkader Husrieh described the agreement with Visa as “a new chapter of hope and opportunity for the Syrian economy,” reflecting a broader push by Damascus to stabilise its financial system, restore trust in the severely weakened currency, and attract foreign investment.
Observers note that the re-introduction of digital payments and international banking links could unlock new flows of trade, remittances, and investment — particularly important as Syria works to rebuild after more than a decade of conflict. However, full normalization will depend on the implementation of robust regulatory frameworks, compliance standards, and sustained economic stability.
Visa’s return arrives alongside other signs of Syria’s financial reintegration: relaxations in some Western sanctions, regulatory efforts with international partners, and renewed interest from foreign investors in sectors including energy, infrastructure, and trade.
As Syria moves forward, the success of this initiative will be judged by more than just card issuance — it will depend on whether the country can rebuild its banking infrastructure, restore public confidence, and deliver real economic opportunities to ordinary citizens.08
