Türkiye’s state-owned Ziraat Bank has expressed interest in launching banking operations in neighbouring Syria, marking a potential milestone in efforts to revive the country’s shattered financial system more than a year after the fall of former regime leader Bashar al Assad.
Ziraat Chief Executive Alpaslan Cakar told Reuters on Wednesday that the bank has formally conveyed its intention to begin operations to the Central Bank of Syria and is closely coordinating with authorities as the process unfolds.
“We have presented our intention to commence banking operations in Syria to the Central Bank of Syria and are closely monitoring the process in coordination with the relevant authorities,” Cakar said in written responses.
Efforts to stabilise Syria’s economy
Syria’s government has been working to stabilise the economy after nearly 13 years of war, with a particular focus on restoring payment systems and reviving the banking sector.
Türkiye has emerged as the government’s strongest foreign backer, expanding trade and business ties as reconstruction efforts accelerate.
Cakar said Ziraat is also holding talks with Syrian banks to strengthen correspondent banking relationships and explore potential collaborations, steps aimed at reconnecting Syria to regional and international financial networks.
The initiative, he added, is intended to support the rehabilitation of Syria’s banking sector, align regulatory frameworks with international standards, and help facilitate reconstruction following the lifting of international sanctions.
There was no immediate comment from Syrian Central Bank Governor Abdelkader Husrieh on the proposal, according to Reuters.
Ziraat Bank, Türkiye’s largest lender by assets, remained the country’s biggest bank in 2025, with total assets of about $184 billion as of September.
