Board Sets 2027 Plans
The board of directors of Syria's Industrial Bank, chaired by Finance Minister Muhammad Yasir Burneya, approved the bank's credit and investment plans and its estimated budget for 2027. The board met at the finance ministry in Damascus on 17 September 2026 and reviewed the bank's operating results for the first half of 2026.
The credit plan, the investment plan and the budget were adopted together as the framework for the bank's lending over the coming year.
Daraya Branch Reopens
The board announced the reopening of the bank's branch in the city of Daraya, in Rural Damascus. The minister said priority would go to rehabilitating branches in war-affected areas and industrial cities so that banking services can return to those communities.
Financing Factory Upgrades
The bank unveiled a joint financing initiative with other banks to fund the modernization of production lines using newer technology, with affected industrial facilities as the target. The measure ties the state lender's credit plan directly to reviving idle or damaged manufacturing capacity.
Digital and Islamic Windows
The approved plans align with the bank's stated focus on digital transformation, cybersecurity, and Islamic banking windows, alongside its core role financing the industrial sector. The minister pointed to advancing digital infrastructure and developing services for industrialists and craftspeople.
The direction reflects an effort to modernize the institution while keeping small industrial producers and tradespeople within reach of financing.
Rebuilding After the War
The reopening of the Daraya branch and the focus on war-affected areas and industrial cities tie the bank's 2027 plan to the physical recovery of Syria's manufacturing base. Reviewing its first-half 2026 results alongside the new plan, the board linked next year's lending to restoring services and production in the communities hit hardest by the conflict.