The Syrian Future Movement is following with great interest the announcement by Mastercard on Thursday, May 7, 2026, that it has completed the technical preparations for processing international bank card transactions within Syria. This step reconnects the Syrian market to the global payments network for the first time in over 15 years and contributes to modernizing the financial and banking sector in line with the requirements of the global digital economy.
This announcement follows the memorandum of understanding signed between the Central Bank of Syria and Mastercard on September 23, 2025, aimed at developing the infrastructure for digital payment systems in Syria. The official decision authorizing licensed banks and electronic payment companies to deal with global card networks was issued on May 4, 2026.
The Syrian Future Movement values this step as the culmination of ongoing strategic efforts and a tool for enhancing financial transparency.
It also highly appreciates this step, which ends the isolation of the Syrian banking sector and reintegrates it into the global economy. On May 7, 2026, the Governor of the Central Bank of Syria, Abdul Qader al-Hasri, affirmed that this step “gives a strong boost to the national economy, opens the door to international investors, and provides new opportunities for companies and individuals.”
This comes as a result of the Memorandum of Understanding signed on September 23, 2025, and the official decision issued on May 4, 2026, which allowed licensed banks and electronic payment companies to deal with global card networks.
The Syrian Future Movement also points out that this development comes within the framework of the Central Bank of Syria’s 2026-2030 strategy, announced on May 6, 2026, which aims to achieve sustainable monetary stability, build a sound banking system, and expand digital payment tools.
The Syrian Future Movement notes that this step requires a comprehensive legislative and security framework and plans to bridge the digital divide.
While we commend this progress, we caution that digital transformation in the financial sector, without a robust legislative and security framework, could widen the digital divide between social groups, weaken financial inclusion in rural areas, and pose risks related to cybersecurity and financial data.
It is worth noting that the micro, small, and medium enterprises (MSME) sector constitutes more than 90% of economic establishments in Syria, contributes approximately 40% to the GDP, and employs around 70% of the workforce.
The difficulties this sector faces in accessing financial services necessitate urgent attention within any digital transformation plan.
We also point out that the Syrian economy suffers from a significant financial inclusion gap, with more than 80% of transactions still relying on cash due to the ongoing conflict.
The Syrian Future Movement reiterates its unwavering support for digital transformation and financial inclusion, as published on its official website. This includes:
- The statement on “Signing the Strategic Cooperation Agreement with Visa International” (dated February 28, 2026), in which the Syrian Future Movement welcomed the agreement with Visa to build a modern and inclusive digital economy, considering it a step towards integration into the global economy and achieving sustainable financial inclusion.
- The statement on “The Central Bank of Syria’s Strategy 2026–2030” (dated May 6, 2026), in which the Syrian Future Movement commended the strategy and praised its focus on expanding digital payment methods, while simultaneously warning of the challenges of digital transformation.
- The statement on “Electronic Notification and Digital Transformation in the Syrian Judiciary” (dated May 8, 2026), issued two days ago, in which we emphasized the need to address the digital divide among lawyers in different regions and the necessity of providing the required training and technical support. These referrals, spaced out in time but closely related in theme, demonstrate the continuity of the Syrian Future Movement’s vision and its deep interest in the digital transformation file in all its aspects, both economic and legal.
The Syrian Future Movement puts forward a set of recommendations to ensure the desired goals of Mastercard’s return are achieved and to strengthen digital transformation, with the aim of “turning this step into a comprehensive opportunity that benefits all Syrians”:
- Working to issue a comprehensive legislative and regulatory framework for digital payments, compliant with international standards for the protection of personal data (such as GDPR), combating financial fraud, and ensuring the security of electronic transactions.
This framework should be flexible enough to accommodate innovation and robust enough to protect consumers and the national economy.
We recommend that this framework be finalized within a maximum of six months. - Ensuring financial inclusion and expanding the reach of digital services by launching targeted national programs to reach the most marginalized groups: micro, small, and medium enterprises (MSMEs), women, youth, residents of rural and remote areas, and internally displaced persons.
We also recommend that these programs include the issuance of bank cards and supported digital wallets, with the goal of reaching 50% of the unbanked population within three years. - Developing basic digital infrastructure, especially in rural and remote areas suffering from weak internet and communication networks.
- The Syrian Future Movement warns that the absence of infrastructure will create a new digital divide and keep the most vulnerable groups outside the modern economy.
Investing in training and capacity building for employees in the financial and banking sector, and for citizens in general, to enable them to use digital tools safely and efficiently.
We recommend launching national awareness campaigns about the dangers of cyber fraud and the importance of data protection. The Syrian Future Movement warns against focusing solely on the technical aspects while neglecting the legislative and regulatory aspects, and emphasizes the need for a comprehensive approach.
The Syrian Future Movement also stresses that digital transformation is not an end in itself, but rather a means to achieve broader goals such as enhancing financial transparency, combating corruption, stimulating economic growth, and creating job opportunities.
Therefore, a comprehensive approach is essential. A process that integrates technical, legislative, and institutional aspects.
The Syrian Future Movement warns against the dangers of a single company monopolizing the market, or of this step becoming a tool for excluding the less fortunate.
It emphasizes the necessity of continuous governmental and societal oversight to ensure the realization of the desired benefits and to prevent digital services from becoming an additional burden on citizens.
In conclusion:
The Syrian Future Movement views the return of Mastercard as a pivotal moment in the process of building a new Syria, and a fundamental step towards a more open, transparent, and digitalized economy.
We believe this step opens up broad horizons for investment, e-commerce, and modern financial services, and contributes to strengthening the confidence of investors and the international community in Syria’s future.
However, the Syrian Future Movement reminds us that the true success of this step is not measured solely by technical readiness, but rather by its ability to improve citizens’ lives, expand financial inclusion, and enhance governance and combat corruption. For our part, the Syrian Future Movement announces that it will remain a close follower of the implementation mechanisms and developments of this file, and will issue periodic reports on the extent to which the concerned parties are committed to achieving the desired goals, based on its national responsibility to monitor the performance of public institutions.
