Visa Returns to Syria: What’s Going On
What’s the Deal
Visa has signed an agreement with the Central Bank of Syria (CBS) to re-launch its payment network in Syria, ending a more than decade-long absence from the country.
Under the deal, Visa will help build a modern digital payments ecosystem: issuing Visa cards, launching digital wallets.
Enabling international-standard payment methods including EMV-chip cards, QR payments and “tap-to-phone” solutions for merchants.
For small and medium businesses (SMEs), this could mean easier payment acceptance without need for costly POS hardware — boosting financial inclusion and helping revive commerce in Syria.
Why Now — Context of Reintegration
Syria has recently taken key steps to re-enter the global financial system. In 2025 it made its first direct international bank transfer via SWIFT since the civil war, signalling the formal return to global banking networks.
The new interim government has restored relations with many countries, and Western sanctions have been eased or partially lifted — creating the space for payment firms like Visa to operate again.
The CBS, under governor Abdulkader Husrieh, has publicly described the Visa partnership as a “new chapter of hope and opportunity,” aimed at modernising Syria’s financial infrastructure and restoring international connectivity.
What It Means — Potential Impact & Challenges
Positive Outcomes & Opportunities
Digital payments & financial inclusion:
For ordinary Syrians — many of whom relied on cash or informal channels for years — Visa’s
return could mean safe, convenient access to global-standard card and digital payments. That reduces reliance on cash and informal money-changers, and adds transparency.
Boost for SMEs and commerce:
Small shops, entrepreneurs, and service providers can accept card and digital payments, enabling smoother business operations, better record-keeping and easier trade — domestically and internationally.
Attracting investment & diaspora funds:
With international-standard financial infrastructure and re-entry into SWIFT/payment networks, Syria can potentially attract foreign investors and facilitate remittances from Syrians abroad — critical for rebuilding economy, reconstruction, and credit flows.
Modernisation & institutional rebuilding:
The partnership signals a broader reform push: banking regulation, payment systems upgrade, compliance with global standards (anti-money laundering, transaction monitoring), all of which are critical for long-term stability.
Risks, Uncertainties & What Could Go Wrong
Trust & compliance risk:
Having been isolated for years, Syria’s banking sector must quickly implement strong safeguards (KYC, AML, transaction monitoring). Visa and correspondent banks will need confidence in transparency and compliance before fully engaging.
Political & sanctions volatility:
While many sanctions have been eased recently, geopolitical instability remains. A reversal in sanctions or political shifts could disrupt banking relationships again
Infrastructure & economic fragility:
After years of war and currency instability, Syria’s economy still faces major challenges — high inflation, weak public finances, uncertain regulatory environment.
Payment infrastructure alone won’t solve deep structural issues.
Public confidence & adoption hurdles:
After 14+ years of conflict and financial isolation, many citizens and businesses may be wary of formal banking systems
Simply lack familiarity with digital payments; adoption could be slow.
Broader Significance — For Syria, Region and Global Finance
This is a milestone in Syria’s financial reintegration:
Visa’s return + SWIFT reconnection + banking upgrades all suggest Syria is moving from post-conflict isolation toward rejoining global commerce and finance.
It could transform regional trade dynamics
With Syria better integrated, cross-border commerce, supply-chain trade, remittances, and regional investment may see growth.
For global payment networks and banks, this is a test case in re-entering post-conflict markets: success — or failure
It could influence how other former-sanctioned or conflict-affected economies are treated in future.
For Syrian diaspora, refugees returning home, and businesses — this may offer real, structural opportunity: easier banking, secure payments, investment potential.
