QNB Group, the largest financial institution in the Middle East and Africa, and Mastercard have announced a major expansion of their partnership following the granting of a Mastercard licence to QNB Group to extend its issuing and acquiring activities in Syria.
The decision follows a memorandum of understanding signed in September between Mastercard and the Central Bank of Syria, which focused on supporting the development and modernisation of the country’s digital payments infrastructure.
The partnership also reflects QNB Group’s broader commitment to driving digital innovation across its footprint and fostering sustainable growth in high-potential markets.
At Mastercard, division president for West Arabia Adam Jones said, “At Mastercard, we are deepening our commitment to Syria as early investors in a market undergoing meaningful transformation. By empowering our partner banks, we are enabling millions of citizens to access modern financial services and laying the foundations for a robust, future-ready payments ecosystem. Our work supports the country’s vision for sustainable economic progress, delivered with full respect for regulatory and compliance standards.”
QNB Group group chief business officer Yousef Mahmoud Al-Neama said, “We are proud of this new step, which comes within the strategic plans of QNB Group to expand its business in the region, as the Syrian market he is seen as economically promising , given the development and modernization of the banking sector in this sisterly country.”
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