live Pezeshkian calls for greater economic cooperation among Muslim countries
Iranian President Masoud Pezeshkian has called for greater economic cooperation among Muslim countries, saying their combined economic weight remai...
A restaurant payment with a Visa card in Damascus has become a symbol of Syria’s reconnection with the global financial system.
President Ahmad al-Sharaa used a Visa card to make an electronic payment at a restaurant in Old Damascus on Wednesday, in a transaction filmed and broadcast by Syria TV. Central Bank of Syria Governor Safwat Raslan was present.
The moment came as international sanctions on Syria are being rolled back and the country seeks to rebuild an economy that has spent years largely cut off from global markets.
Visa said on Thursday that it had successfully completed a live international card transaction in Syria, describing the test as a significant step towards allowing foreign visitors to use Visa cards in the country.
The company said the transaction was carried out in partnership with Syria’s central bank, Fransabank and Paymera.
Visa said the development would help expand digital payments and strengthen Syria’s links to the global digital economy.
For ordinary Syrians and international visitors, wider access to electronic payments could eventually make everyday transactions easier and reduce the country’s reliance on cash.
The payment came as al-Sharaa spoke at the opening of the 63rd Damascus International Fair, where he presented Syria as entering a new period of reconstruction following the lifting of sanctions.
He said he hoped Syria could once again serve as a "bridge between markets", a trade corridor and an economic hub connecting East and West.
The government faces a formidable task. Years of war, sanctions and economic isolation have damaged infrastructure, weakened financial institutions and restricted Syria’s access to international trade and investment.
The reopening of financial channels is therefore an important part of any broader economic recovery.
The latest developments follow a series of steps by Washington to ease restrictions on Syria.
The U.S. Treasury Department announced on Monday (24 August) that it had removed Syria from its list of state sponsors of terrorism, fulfilling a commitment by the Trump administration to provide sanctions relief.
Syria had been on the list since 1979.
The removal does not by itself resolve the country's deep economic problems, but it represents a major shift after decades of isolation.
Against that backdrop, al-Sharaa's restaurant payment was more than a routine card transaction: it offered a small, visible sign of Syria's effort to reconnect with a financial system from which it has long been largely shut out.
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
Rescuers in Nepal used helicopters on Thursday to scour for hundreds still missing after a wall of mud and rock collapsed into a river on the Himalayan border with China's Tibet, sending catastrophic floods through towns and valleys, killing 162 people.
Secretary of State Marco Rubio told allied foreign ministers Washington will focus on sanctions and other pressure on Iran “for the time being”, Axios reports. Meanwhile, Iran and Oman have resumed talks on a temporary shipping route through the Strait of Hormuz.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Russia and Ukraine have exchanged 10 prisoners of war each in Belarus, Moscow's Human Rights Commissioner, Yana Lantratova, has said.
The inaugural Silk Road Finance & Technology Forum brought together policymakers, investors and technology companies as Central Asia looks to build a more connected financial system and compete for a bigger share of global fintech investment.
The Silk Road Finance & Technology Forum will bring more than 6,000 policymakers, investors and technology leaders from 74 countries to Tashkent, as Central Asia seeks a bigger role in the global fintech landscape.
Kazakhstan is considering the Baku-Supsa pipeline as an alternative oil export route after Caspian Pipeline Consortium disruptions cost the country an estimated 3.5 million tonnes of oil, Energy Minister Yerlan Akkenzhenov said.
Kuwait’s Al-Sayer Group plans to export fresh and dried Afghan fruit to Kuwait and other markets while exploring broader trade and investment opportunities in Afghanistan, according to Afghan government statements following talks in Kabul on Tuesday.
Central Asia’s fintech ambitions are in the spotlight as a major forum in Tashkent draws to a close, shifting attention from the region’s potential to the investment, infrastructure and global reach needed to turn that vision into growth.
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