Mastercard signs memorandum of understanding with «Central Bank of Syria» to collaborate on developing a national payments ecosystem

Damascus, Syria: 25 September 2025:

Mastercard has signed a landmark memorandum of understanding (MoU) with the «Central Bank of Syria». This partnership aims to strengthen the national payments ecosystem and expand access to financial services across the country.

The alliance highlights a shared vision for fostering inclusion, resilience, and opportunity through advanced technology. Moreover, it demonstrates the commitment of both institutions to modernize the financial landscape in Syria.

Building local expertise through knowledge transfer

The collaboration will open doors for integration between banks and financial institutions in Syria. It also aligns with global best practices in the digital payments sector.

Additionally, knowledge transfer will play a crucial role. Dedicated training sessions and technical exchanges will help build strong local expertise in digital payments and fintech innovation.

Leaders’ statements on the MoU

Dr. Abdulkader Husrieh, Governor of the «Central Bank of Syria», said:
“With its global network, tailored technology solutions, and deep knowledge of payments, Mastercard stands as a key strategic partner. The MoU provides a framework for sharing expertise, strengthening infrastructure, and promoting financial inclusion. Together, we will empower Syria’s economy and its people.”

Adam Jones, Division President, West Arabia at Mastercard, commented:
“This MoU reflects our belief that inclusive ecosystems are built through partnership and innovation. We are proud to work with the Central Bank of Syria and the government to create a payment system that benefits both local citizens and international visitors. By bringing global payments innovation to Syria, we aim to support its financial future.”

Next steps for collaboration

The MoU serves as a foundation for long-term cooperation. Follow-up initiatives will include training programs, technical workshops, and joint projects.

Through these steps, both parties aim to enhance financial inclusion, strengthen infrastructure, and build sustainable partnerships. Ultimately, the collaboration will contribute to Syria’s economic development and digital transformation journey.

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