The Syrian Future Movement welcomes the signing of a strategic memorandum of understanding between the Ministry of Communications and Information Technology and Visa International at its headquarters in San Francisco. The Movement considers this a pivotal step towards building a modern and inclusive digital economy in the new Syria, one that enhances integration into the global economy and achieves sustainable financial inclusion.
The Syrian Future Movement affirms that this agreement, signed by Minister Abdul Salam Heikal and Ms. Leila Sarhan (Visa’s Senior Vice President for North Africa, the Levant, and Pakistan), builds upon the previous roadmap signed with the Central Bank of Syria in December 2025. It establishes a comprehensive framework for cooperation to develop digital infrastructure, promote financial inclusion, and support innovation in financial technology (FinTech). This includes creating a regulatory sandbox dedicated to the Syrian digital economy, building capacity, and, most importantly, strengthening cybersecurity and combating fraud. Visa will also provide advisory services to support national digital economy plans (Visa official statement, February 26, 2026).
The Syrian Future Current points out that Visa, as a global leader operating the largest electronic payments network and holding approximately 44-48% of the US card market (Nielsen reports), possesses the necessary expertise to connect Syria to international networks.
We also note, within the Syrian context, that micro, small, and medium enterprises (MSMEs) constitute more than 90% of economic establishments, contribute about 40% to GDP (down from higher levels before the revolution), and employ approximately 70% of the workforce (UNDP and World Bank reports 2023-2026).
The economy also suffers from a significant financial inclusion gap, with the unbanked rate in the Arab region exceeding 64% of adults (UN report 2025), and more than 80% of transactions relying on cash due to the effects of the conflict.
The Syrian Future Movement sees this partnership as a strategic opportunity for a gradual transition to a digital economy that reduces reliance on cash, enhances the participation of MSMEs in e-commerce, and opens doors for innovation for Syrian youth and innovators through a national initiative connecting them with international partners and investors via Visa platforms.
The Syrian Future Movement proposes the following recommendations, based on a specific and measurable national vision, to ensure maximum benefit:
- Issuing a comprehensive legislative and regulatory framework for digital payments and a regulatory sandbox within 12 months, compliant with international standards (ISO 20022, PCI-DSS, GDPR-inspired data protection), while guaranteeing the protection of personal data.
- Launching targeted national financial inclusion programs for micro-enterprises, women, youth, rural areas, and displaced persons, including the issuance of Visa cards and supported digital wallets to reach 50% of the unbanked population within three years.
- Establishing three national FinTech centers of excellence in Damascus, Aleppo, and Homs, in cooperation with Visa, to train 10,000 specialists annually in cybersecurity, digital payments, and financial innovation.
- Providing tax and financial incentives (temporary exemptions, an internationally supported loan guarantee fund) for projects that adopt digital payments, linking them to MSME transaction digitization programs.
- Strengthening national cybersecurity through training partnerships with Visa and launching national awareness campaigns reaching 5 million citizens to combat digital fraud over the next two years.
- Supporting local research and innovation through Visa platforms, allocating a national budget to develop FinTech solutions tailored to the Syrian context (diaspora remittances, cross-border trade, social payments), and connecting Syrian expatriate talent.
The Syrian Future Movement calls on the government, the private sector, and international organizations to unite their efforts to translate this agreement into tangible achievements that serve sustainable development and economic justice, as the digital economy has become a prerequisite for rebuilding a strong and productive Syria.
