The Central Bank of Syria (CBS) has signed a Memorandum of Understanding (MoU) with Mastercard to improve Syria’s digital payments infrastructure and promote financial inclusion.
This “strategic partnership” aims to expand access to essential financial services for millions of Syrians by integrating banks and financial institutions according to global standards, the CBS announced Tuesday.
The accord includes knowledge transfer through training programs and technical exchanges to build local expertise in digital payments.
Governor of the Central Bank of Syria, Abdulkader Husrieh, highlighted Mastercard’s global network and technological expertise as key to helping Syria “build a strong financial system.”
Adam Jones, the Executive Vice President and Division President for West Arabia at Mastercard emphasized the goal of creating an inclusive payment ecosystem for Syrians and international visitors.
The MoU sets the foundation for future collaboration, including workshops and initiatives to enhance financial services and support Syria’s economic development.
Mastercard, based in New York, is a global leader in electronic payments, partnering with banks to issue cards and enable transactions worldwide.
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