Visa, the global payments technology giant, has announced plans to launch operations in Syria, marking a significant step in the war-torn nation’s efforts to reconnect with the global financial system. The move follows an agreement between Visa and Syria’s central bank to develop a digital payments ecosystem, a development that could reshape the country’s economic landscape after years of isolation.
According to a statement released by Visa on December 4, 2025, the company’s immediate focus will be on working with licensed financial institutions in Syria to build a robust and secure payments foundation. This foundation will include the issuance of payment cards and the introduction of digital wallets, all adhering to global standards. "The immediate focus will be on working with licensed financial institutions to develop a robust and secure payments foundation. This includes issuing payment cards and enabling digital wallets using global standards," Visa said, as reported by Reuters.
The announcement came on the heels of a high-profile agreement between Visa and the Central Bank of Syria. Syrian central bank governor AbdulKader Husrieh expressed optimism about the partnership, telling Reuters NEXT, "We are glad that we are working with Visa." Husrieh added that Syrian officials have further meetings with Visa scheduled, emphasizing the government’s ambitions to transform Syria into a financial hub for the Levant region. "We are working to have a fully finished payment system in which we have global partners because... our vision is to have Syria as hub—a financial hub—for the Levant," Husrieh said via video link at the Reuters NEXT conference in New York.
The push to modernize Syria’s financial infrastructure is not occurring in a vacuum. In November 2025, the International Monetary Fund (IMF) visited Damascus and pledged technical assistance for the country’s financial sector. The IMF’s support is focused on regulation, the rehabilitation of payment and banking systems, and rebuilding the central bank’s capacity to implement effective monetary policy for low and stable inflation, as well as supervision of the banking system. Husrieh clarified that, while the IMF is providing technical assistance, Syria is not yet under any formal IMF fund program as of December 2025.
The World Bank has projected that Syria’s gross domestic product will grow by a modest 1% in 2025. However, Husrieh contends that this estimate doesn’t reflect the full impact of recent economic changes, including the easing of sanctions and the anticipated return of refugees. He suggested that the reality on the ground could be more optimistic than the World Bank’s forecast, given the momentum generated by recent diplomatic and economic developments.
Syria’s journey to this point has been tumultuous. The country’s banks were largely cut off from the global financial system during the civil war, which began after President Bashar al-Assad’s crackdown on anti-government protests in 2011. That crackdown triggered sweeping Western sanctions, including measures specifically targeting the central bank. For years, Syrian financial institutions operated in near-total isolation, unable to access international payment networks or attract foreign investment.
Everything changed in 2024, when Assad was ousted in an offensive led by Islamist rebels. The new interim government, headed by President Ahmed al-Sharaa, has made restoring international ties a top priority. Efforts to re-engage with the world culminated in a May 2025 meeting in Riyadh between Sharaa and U.S. President Donald Trump. That diplomatic breakthrough was followed by Sharaa’s visit to the White House in November 2025, further signaling Syria’s return to the international fold.
The diplomatic thaw has had tangible economic consequences. Washington has eased significant parts of its sanctions program on Syria, and European governments have announced the end of their own economic sanctions. These policy shifts have opened the door for international businesses like Visa to re-enter the Syrian market and for the country’s financial institutions to reconnect with global networks.
Visa’s entry into Syria is widely seen as a vote of confidence in the country’s efforts to rebuild and modernize its economy. The company, which facilitates digital transactions among consumers, merchants, financial institutions, and governments in more than 200 countries and territories, brings with it both technological expertise and a stamp of international legitimacy. For ordinary Syrians, the arrival of digital payments could mean greater access to financial services, reduced reliance on cash, and smoother transactions for both individuals and businesses.
But the road ahead is not without challenges. Years of conflict have left Syria’s infrastructure battered and its financial sector in need of significant repair. The IMF’s technical assistance is a crucial part of the rebuilding process, but the country will need sustained investment and careful regulation to ensure that its new payments ecosystem is both secure and inclusive. There’s also the question of trust: after years of financial isolation, it may take time for Syrians to fully embrace digital payments and for international partners to view Syria as a stable, reliable market.
Still, there’s a palpable sense of optimism among Syrian officials and international observers alike. The central bank’s vision of turning Syria into a financial hub for the Levant region may seem ambitious, but the recent flurry of diplomatic and economic activity suggests that the country is serious about reclaiming its place on the world stage. As Husrieh put it, "Our vision is to have Syria as hub—a financial hub—for the Levant."
Visa’s planned launch is emblematic of a broader trend: after more than a decade of war and isolation, Syria is taking concrete steps to reintegrate with the global economy. The partnership with Visa, supported by IMF guidance and facilitated by the easing of international sanctions, could mark the beginning of a new chapter for the country’s financial sector—and perhaps for its broader economic recovery.
While the challenges are significant, the potential rewards are even greater. If Syria can successfully build a secure, modern payments infrastructure and attract international partners, it could set the stage for renewed growth, investment, and stability in the years to come. For now, all eyes are on the rollout of Visa’s operations and the continued evolution of Syria’s financial landscape.
