Syria Begins Trial Launch of Global Bank Cards

Omar Halabi, supervising director at the Central Bank of Syria, announced the start of a trial and regulated launch of global bank cards in Syria, carried out within parameters coordinated between Syrian banks and international payment companies.

Current Usage Limits

Halabi said the current daily and monthly spending limits for use outside Syria are tied to the trial launch phase, and are set within each bank's specific product and its agreement with the relevant global payment network. He noted these limits would be reviewed and gradually expanded as operations stabilize and additional Syrian banks join the service.

How Charges Are Deducted

Halabi explained that deductions during the first phase depend on the availability of a balance or guarantee in foreign currency, with obligations settled in the same currency as the card rather than relying on automatic conversion from the Syrian pound for each purchase. He added that purchases made in the card's own currency are deducted directly in that currency, while conversions for differing currencies follow the rules of the payment network and issuing bank, without reference to a fixed local exchange rate.

Scope of Use

Halabi indicated that the regulatory framework permits several card uses, including:

• Point-of-sale purchases
• ATM withdrawals
• Online purchases

He noted that activated services currently vary depending on each bank's readiness and its arrangements with payment networks, with additional features and platforms to be added progressively.

Regulatory Framework

Halabi explained that Decision No. 259 set out requirements for information security, customer data protection, and cybersecurity, in addition to compliance with card transaction standards, with operational arrangements and data processing pathways subject to review and oversight.

First Overseas Transaction

Central Bank of Syria Governor Safwat Raslan announced the completion of the first overseas purchase using a Mastercard issued by a Syrian bank, carried out at Dubai International Airport. Raslan said the step, despite its apparent simplicity, marks the beginning of Syrian bank cards operating at the global level.