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Mastercard and QNB Group detailed in a joint press release distributed via PR Newswire how QNB Syria processed the inaugural point-of-sale transaction at an approved local merchant using an internationally issued Mastercard card. The full payment cycle, from authorization at the terminal through to settlement with the merchant, was completed successfully in Damascus after Syria’s payments ecosystem was technically reconnected to Mastercard’s global network. Central Bank of Syria Governor Mohammed Safwat Raslan personally conducted the transaction in the presence of senior executives from the partnering organizations.
Raslan stated, “The completion of Syria’s first international card transaction in more than 15 years is an important step in modernizing the country’s payments ecosystem. This achievement demonstrates the value of collaboration between the public and private sectors in enabling secure international payment acceptance, facilitating commerce and supporting sustainable economic development.” Yousef Mahmoud Al-Neama, Group Chief Business Officer at QNB Group, said in the same release that the transaction represents an important step in the development of Syria’s payments landscape by connecting merchants to international payment capabilities.
The August transaction builds directly on a May 2026 decision by the Central Bank of Syria that authorized local banks and electronic payment companies to engage with global networks including Mastercard. QNB Group secured the first license to provide such international card acceptance services in the Syrian market at that time, according to a statement the bank issued in May. This latest milestone reflects ongoing implementation of a memorandum of understanding that Mastercard and the Central Bank of Syria signed in September 2025 to advance digital payments infrastructure.
Similar progress has occurred with Visa, which conducted its own initial international card test in Syria on the same day as the Mastercard transaction, Al-Monitor reported. President Ahmed al-Sharaa participated in that demonstration by making a purchase at a Damascus restaurant, highlighting the new government’s focus on restoring financial connectivity after the fall of the previous regime in December 2024. The Central Bank of Syria has since authorized a broader set of licensed institutions to integrate with these international networks.
QNB Group’s release indicated that participating Syrian hotels, restaurants and certain government entities can now accept international Mastercard cards at point-of-sale terminals, with additional merchants to be added gradually under regulatory oversight. The bank, which operates as the largest financial institution across the Middle East and Africa, described the development as supporting a shift toward modern and secure digital payments. More than 15 years had passed since the last such international card activity in Syria because of prolonged sanctions and conflict that isolated its financial systems.
The World Bank has approved a $100 million grant to modernize Syria’s financial sector, providing further backing for reforms that include these payment network integrations. The funding targets upgrades to core banking systems and improvements in regulatory capacity across the country. Such multilateral support aligns with efforts to ease Syria’s re-entry into global commerce following its removal from the U.S. list of state sponsors of terrorism earlier in 2026.
