The Qatari group Estithmar Holding acquired majority stakes in Shahba Bank in addition to a share in the Syrian International Bank. Observers note the transaction and the role of Qatari banks in Syria’s post-war financial development.
The acquisition marks the first significant foreign banking acquisition following the fall of the Assad regime in the country.
Acquiring Shahba Bank puts Qatari investors in a strong position to secure further investment packages ahead of 2026.
It follows the removal of Caesar sanctions by the U.S. Treasury on Syria last month.
Analysts note that the Syrian-Qatari brothers, Moutaz and Ramez Al-Khayat, have acquired a 60% majority stake in Shahba Bank. The acquisition was previously held by Banque Bemo Saudi Fransi and Ahli Trust Bank.
The Al-Khayyat family own a growing portfolio in Syria, which already includes power generation projects and contracts for the expansion of Damascus International Airport.
Qatari investment ties Syria’s reopening to Qatari liquidity channels, tying future growth and revenue streams to Qatari entities.
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