🤝Syria 🇸🇾: Mastercard signs “Memorandum of Understanding” with the Central Bank

🤝Syria 🇸🇾: Mastercard signs “Memorandum of Understanding” with the Central Bank

The card network is expected to play an active role in developing and launching a local payment system.

▶️The primary goal is to break the country’s financial isolation.

▶️The memorandum includes the development of payment infrastructure, the issuance of local and international cards, and the integration of Syrian banks into global payment networks.

▶️Mastercard will take responsibility for training specialists and conducting technical workshops.

▶️Context: Syria’s population is 15.4 million, with a GDP per capita of around USD 1,600. Over 70% of Syrians lack access to banking services. Cash remains dominant, and digital payments account for only a small fraction of economic activity.

#Middle_East #news #geopolitics

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