Damascus: The Central Bank of Syria has issued a decision allowing banks, financial institutions, and licensed electronic payment companies to work with their global counterparts, such as Visa and Mastercard, in a step aimed at developing the country's financial sector and promoting digital transformation.

According to Qatar News Agency, the decision comes as part of a strategy to modernize payment systems and expand financial services, paving the way for the gradual integration of the Syrian market into the global financial system, the bank said.

The decision enables the provision of more advanced and secure payment services, allows visitors to Syria to use their international cards, and facilitates card usage for Syrians abroad, it added.

The Central Bank of Syria said that this move also supports e-commerce, reduces reliance on cash, enhances the efficiency and security of financial transactions, and helps transfer modern expertise and technologies to the local market.