The Central Bank of Syria reported an agreement with Saudi and Syrian business council representatives to establish a joint Saudi-Syrian bank and develop a banking partnership backed by businesspeople and investors from both countries. The measures are intended to create more effective banking channels for investment between Syria and Saudi Arabia. The discussions focused on direct, regulated links between banks and practical transfer mechanisms for funds connected to major investment projects, particularly in tourism and real estate. The parties also agreed to continue coordination to facilitate Saudi investment in Syria and strengthen engagement between the two countries’ business communities.
2026-08-27Central Bank of Syria
Central Bank of Syria agrees with business councils to establish joint Saudi-Syrian bank
The Central Bank of Syria and Saudi and Syrian business council representatives agreed to establish a joint Saudi-Syrian bank and an investor-backed banking partnership. They also discussed direct banking channels and transfer mechanisms to support investment projects, particularly in tourism and real estate.