Qatar’s Estithmar positioning to acquire two Syrian banks

Qatar’s Estithmar Holding is poised to purchase controlling stakes in two Syrian banks.

The investment group plans to take over majority ownership of Shahba Bank and about 30% of Syria International Islamic Bank, Reuters reports.

The move would be the first foreign banking acquisition in Syria since the fall of Bashar al-Assad and follows the recent lifting of U.S. sanctions on Syria.

The year-old interim government of President Ahmed al-Sharaa has been seeking to bring foreign capital into Syria’s banking system after more than a decade of conflict.