Estithmar Holding Q.P.S.C., a publicly traded entity on the Qatar Stock Exchange, signed an agreement to acquire a 49% stake in Syria’s Shahba Bank through its subsidiary: Masaref Holding.
This agreement, finalised in Damascus, is a strategic move aimed at bolstering Estithmar Holding’s expansion into regional financial services, marking a significant step in diversifying its investment portfolio.
Fadi Al-Faqih, the CEO of Estithmar Capital, emphasised the selectiveness of the transaction, citing “selectively targeting high potential opportunities.”
This investment is anticipated to provide Masaref Holding with the opportunity to leverage the potential within the Syrian market, while aiding Shahba Bank in enhancing its operational efficiencies and market competitiveness.
Gulf capital is essential to the rebuilding of Syria’s financial system, following the removal of U.S. sanctions on Syria.
The agreement was established between Masaref Holding and representatives from Bemo Saudi Fransi Bank and Ahli Trust Bank.
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