Joint Bank Agreement
The Central Bank of Syria and a visiting Saudi business delegation agreed on 27 August 2026 to establish a joint Saudi-Syrian bank. The meeting was held at the central bank's headquarters in Damascus.
Governor Safwat Raslan led the Syrian side, while the delegation from the Saudi-Syrian Business Council was headed by Mohammed Abu Nayyan. Both sides described the planned institution as a channel to support investment moving between the two countries.
Easing Bank Transfers
The talks focused on finding practical solutions for bank transfers between Syria and Saudi Arabia. Officials said that smoother transfer mechanisms would help investors inside and outside Syria reach the opportunities available to them.
The stated goal is to give large projects a dependable way to move money across the two markets. The central bank said the talks addressed how to connect investors to available opportunities and how to fund the projects they take on.
Tourism and Real Estate
The two sides identified tourism and real estate as priority sectors for the new financial arrangements. Both fields were named among the large projects that the planned channels are meant to support.
Tying investment access to concrete banking tools signals an intent to move from broad statements of cooperation toward projects that can be financed.
A Broader Banking Partnership
Beyond the joint bank, the participants agreed to build a wider banking partnership centered on businesspeople and investors from both countries. The aim, they said, is to create more effective channels for supporting investment.
Private-sector figures from both sides were placed at the core of that partnership.
Role of Business Councils
Participants also discussed activating the role of joint business councils in supporting the banking sector. Strengthening those councils is meant to deepen contact between the Syrian and Saudi business communities.
Officials presented closer communication between the two communities as a foundation for the financial cooperation now being planned.