Al-Sharaa Pays for His Coffee with 'Visa' in the Heart of Damascus: Syrian Central Bank Governor Documents First Transaction After Syria's Removal from 'Terror List'

Syrian President Ahmed Al-Sharaa swiped a 'Visa' card on a point-of-sale device at a café in the heart of Damascus, a scene personally documented by the Governor of the Central Bank of Syria, Mohammad Safwat Raslan. He recorded what he described as the first international card payment in the heart of Damascus the day after Syria was removed from the U.S. list of state sponsors of terrorism.

Raslan wrote on his 'X' platform account, accompanied by a video clip of the payment process: "Witnessing this moment with His Excellency President Ahmed Al-Sharaa, and executing the first payment using a Visa card in the heart of Damascus the day after Syria's removal from the list of state sponsors of terrorism, is a feeling that words can hardly capture... A new beginning filled with hope and responsibility."

From Experimentation to Daily Life

The presidential scene crowns a process that began last May when the Central Bank of Syria issued a decision allowing banks and electronic payment companies to engage with global payment networks. 'Mastercard' completed its technical integration on May 8, followed by a launch event and trial payments at the Four Seasons Hotel Damascus the next day. Qatar National Bank began accepting cards on May 10 — marking the return of the networks after a 15-year hiatus since the 2011 sanctions. Leila Sarhan, Vice President and Regional Manager for North Africa, Levant, and Pakistan at 'Visa', stated that the company sees "strong long-term potential to build a modern digital payments ecosystem in Syria that aligns with global standards."

The 'Final Obstacle' Falls

However, the return was still subject to restrictions; experts noted the inability to process transactions in dollars and euros due to compliance considerations as long as Syria remained on the terror list, along with weak trust in banks, limited point-of-sale devices, fluctuating exchange rates, and power and internet outages, in an economy where 80–90% of the population operates outside the banking system. With the classification removed last Monday — which Damascus considered the "final obstacle" for banks and international companies — the presidential payment effectively opens the door for the return of correspondent banks, the flow of expatriate remittances, and the financing of reconstruction through official channels.

Early Saudi Imprint

The Kingdom has had an early presence in this process; the Governor of the Saudi Central Bank 'SAMA', Ayman Al-Sayari, met with his Syrian counterpart in September 2025 on the sidelines of the 'Money 20/20' conference in Riyadh to discuss cooperation in financial services. This was followed by meetings between the Syrian side and representatives of Saudi banks — extending Riyadh's role, which hosted the Trump-Al-Sharaa meeting in May 2025 and the announcement of the lifting of sanctions.

The Central Bank Governor who documented the moment — Raslan — is an economics graduate from the University of Aleppo, with over 20 years of experience in credit risk management and digital transformation between 'Deutsche Bank' and 'Targobank' in Germany and consulting at 'EY' and 'Capco', before taking over the Syrian Development Fund and then the Central Bank last May.