Syria resumes credit card transactions as part of economic revival efforts

Syria Reinstates Credit Card Payments Amid Efforts to Reintegrate into Global Economy

The Syrian government has authorized banks to process transactions with Visa and Mastercard, a move aimed at reestablishing its presence in the global economy.

As part of this effort, the European Union (EU) has agreed to restore trade ties with Damascus. The EU’s decision is seen as a step towards normalizing relations between the two parties.

However, Syria continues to seek removal from the US list of “state sponsors of terrorism”. This designation was imposed on the country in 1995 and remains in effect today.

The reinstatement of credit card payments marks an important development for Syria’s economy. The move is expected to facilitate trade with other countries and help the country reestablish its position in the global market.

Banks in Syria have been instructed to work with Visa and Mastercard, allowing customers to make transactions using these payment systems. This development is seen as a positive step towards normalizing relations between Syria and the international community.

The Syrian government’s efforts to rejoin the global economy are ongoing. The country continues to seek removal from the US list of state sponsors of terrorism, which it believes will help to improve its economic prospects.

Source: Al Jazeera