Visa and Mastercard Break Ground in Rebuilding Syria's Financial Ties

Visa and Mastercard have made history by processing their first international card payments in Syria, marking a significant milestone for the country's reintegration into global financial systems. This development comes after the U.S. removed Syria from its list of state sponsors of terrorism, a status that had restricted the country's financial ties worldwide.

QNB Group in Qatar announced the completion of the world's first end-to-end international Mastercard payment in Syria, while Visa successfully ran its first live international payment with Lebanon's Fransabank. These early transactions set the foundation for expanded international card services, although countrywide availability is still in progress.

Syrian President Ahmed al-Sharaa personally participated in Visa's first test customer transaction at a Damascus restaurant, joined by Central Bank Governor Mohammed Safwat Raslan. The U.S. had kept Syria on its terrorism sponsor list since 1979, dampening international banking and investment efforts despite ending broad sanctions late last year.