Syria Restores Credit Card Payments in Bid to Rejoin the Global Economy
Syria has restored access to international credit card payments after roughly a decade of disconnection, Al Jazeera reports. The move is described as one of the first concrete steps in the country's bid to rejoin global payment systems.
Banks in Syria have announced that international credit card transactions are being processed again, Al Jazeera reported. Visa and Mastercard payments are now accepted at selected hotels and retail outlets in Damascus and Aleppo, according to the broadcaster.
The transitional government says the move forms part of an economic revival plan that includes a softer foreign-exchange regime and renewed engagement with international financial institutions. Officials add that the card infrastructure will first be widened in the tourism and services sector.
The return does not amount to a lifting of the sanctions framework that still applies to Damascus, but it does restore card-based commerce inside the domestic market. Bankers say the resilience of the new payment line will face its first real test in the coming weeks.
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