Qatar National Bank (QNB) has become the first international bank to launch global payment card acceptance and digital payment services in Syria, marking a major development in the country’s banking sector. The move follows a decision by the Central Bank of Syria (CBS) allowing licensed financial institutions and electronic payment companies to work with international payment networks such as Visa and Mastercard.
Officials say the measure is part of expanding financial reforms aimed at modernizing payment systems, implement digital banking services and reducing reliance on cash transactions. The CBS described the policy as part of ongoing efforts rebuilding financial institutions and strengthening monetary tools after years of economic disruption.
QNB Moves Quickly Into Syrian Market
According to the Qatar News Agency, QNB said the launch of international payment acceptance services represents a step toward improving Syria’s digital payment infrastructure and supporting financial inclusion. The bank stated the rollout was coordinated with relevant authorities and developed in line with local regulations and international standards.
According to the group, the expansion will take place gradually to support long-term sustainability and broader market adoption. Adel al-Malki, QNB’s senior executive vice president of retail banking, said the bank is proud to be the first global institution supporting international payment card acceptance in Syria.
He added the Syrian market is undergoing rapid transformation as authorities work to reduce dependence on cash-based transactions. QNB also said the initiative aims to provide faster and more secure payment experiences for consumers and businesses. The bank later confirmed via a post on X that it had officially become the first international bank to enable global card acceptance in the Syrian market.
Partnerships Lay Groundwork for Expansion
The launch builds on a series of agreements signed by the CBS with international payment companies over the past year. In September 2025, the bank signed a memorandum of understanding with Mastercard supporting the development of digital payment systems and financial inclusion initiatives.
Three months later, Syrian authorities reached a separate agreement with Visa focused on integrating the country into the global digital economy. The initial phase of the Visa partnership included plans for secure payment infrastructure, card issuance and digital wallet services.
In January 2026, Mastercard granted QNB a license to expand card issuance and payment acceptance activities inside Syria. Analysts say these coordinated steps point toward a gradual transition to a less cash-dependent economy, with international payment acceptance viewed as a key component of that shift.
The launch of these services reflects growing efforts to modernize Syria’s financial sector and reconnect it with international banking networks. Officials and industry observers say continued partnerships with global institutions could help expand access to digital financial services for businesses and consumers across the country.
