QNB Syria and Mastercard Launch First Locally Issued International Cards in 15 Years

QNB Syria and Mastercard have launched the first locally issued Mastercard cards in Syria in over 15 years. This development reconnects the Syrian banking sector to the global financial system, allowing eligible domestic customers to conduct international transactions and marking a critical shift in the country’s digital payments landscape.

What was announced

QNB Syria, a subsidiary of the QNB Group, has moved from payment acceptance to full card issuance through a new collaboration with Mastercard. The launch, which was attended by H.E. Mohammed Safwat Raslan, Governor of the Central Bank of Syria, introduces locally issued cards that enable eligible customers to perform secure payments at international point-of-sale (POS) terminals. This rollout is being managed through a phased and controlled approach to ensure operational readiness as the bank scales its advanced payment services.

The announcement follows a series of technical milestones aimed at reintegrating Syria into the global payments ecosystem. Previously, Mastercard and QNB Group worked to enable international card acceptance within the Syrian market, allowing foreign-issued cards to be used domestically for the first time in more than a decade and a half. To validate the new issuance capabilities, the partners successfully processed a test transaction using a newly issued QNB Syria card at an international terminal, proving the end-to-end functionality of the established infrastructure. This system relies on international point-of-sale infrastructure and Mastercard’s global network to provide Syrian consumers and businesses with the same security and convenience standards found in other international markets.

"For the first time in more than 15 years, customers and businesses in Syria are gaining access to international payment capabilities through both the acceptance of internationally issued cards and the introduction of locally issued QNB Syria cards. This represents a significant step forward for the country’s payments landscape and reflects QNB Group’s commitment to leveraging its international network, local infrastructure and strategic partnerships to provide customers and businesses with greater choice, security and connectivity,"

Mr. Khalid Ahmed Al Sada, Senior Executive Vice President, QNB Group Corporate and Institutional Banking and Chairman of QNB Syria.

The companies involved

QNB Syria is a key subsidiary of the QNB Group, which is recognized as a leading financial institution across the Middle East and Africa. Headquartered in Qatar, QNB Group maintains a significant international footprint, leveraging its global network to provide corporate and institutional banking services. The group operates its primary digital presence through qnb.com and has historically focused on expanding financial connectivity in emerging markets. In Syria, the bank has positioned itself as a primary driver of banking modernization and infrastructure development.

Mastercard is a global technology company in the payments industry, operating one of the world's fastest payment processing networks. The company connects consumers, financial institutions, merchants, and governments in more than 210 countries and territories. In the Middle East, Mastercard has been instrumental in transitioning cash-heavy economies toward digital frameworks. The collaboration in Syria is led by the company's West Arabia division, which oversees strategy and execution in several complex Levant and North African markets, focusing on financial inclusion and the deployment of secure, interoperable payment technologies.

What FF News has reported before

Mastercard has been consistently active in the Levant region, focusing on digital transformation and entrepreneurship. We previously reported on how Mastercard and Banque du Liban Partner to Drive Digital Payment Acceptance in Lebanon, a move that mirrored the current efforts in Syria to modernize national payment infrastructures. Furthermore, the company's commitment to the region was highlighted when Bank Audi and Mastercard to Support 10,000 Lebanese Entrepreneurs via neo Business was announced, showcasing a strategy of using digital tools to empower local business owners. These initiatives demonstrate a broader trend of Mastercard deepening its roots in Middle Eastern markets that are undergoing significant economic transitions.

What this means

The re-integration of Syria into global payment rails is a landmark event for the Middle Eastern fintech sector. By moving from mere acceptance to full issuance, QNB Syria is effectively ending a decade and a half of financial isolation for its customer base. This move puts significant pressure on other domestic banks to modernize their legacy systems or risk losing their most affluent and internationally-mobile clients. The "phased and controlled" rollout suggests a cautious approach to compliance and risk management, which remains a primary concern for any institution operating in the region. For the wider industry, this signals that global networks are now willing to navigate complex geopolitical environments to capture untapped digital transaction volume.