Qatar’s Estithmar Holding Moves Into Syrian Banking With Major Acquisitions

Qatar’s Estithmar Holding is preparing to make a landmark entry into Syria’s banking sector, marking the first foreign banking acquisition in the country in years.

According to informed sources, the group plans to acquire a local Syrian bank alongside a significant stake in an Islamic lender.

This move comes as Syria’s central bank seeks to recapitalize a financial sector severely weakened by years of conflict and international sanctions.

Analysts believe the involvement of Estithmar Holding could help restore confidence and attract fresh capital into the market.

The reported deal includes taking a majority stake in Shahba Bank after purchasing shares from existing banking shareholders, as well as acquiring a 30% stake in Syria International Islamic Bank, where Qatari partners already hold part of the ownership.

Sources close to Shahba Bank’s management say the new investors have ambitious plans, including boosting capital and strengthening correspondent banking relationships to enhance cross-border operations.

The acquisitions remain subject to regulatory approval.

Syria’s central bank has welcomed market-driven restructuring initiatives that support stability and sound governance, provided they comply with existing laws.

Observers note that Estithmar Holding’s entry could signal the beginning of broader reforms within Syria’s banking industry.