Syria Central Bank Meets Arab Banks in Amman to Discuss New Banking Licenses
Syria's Central Bank Governor Mohamad Safwat Raslan held talks in Amman on September 21, 2026 with representatives of several Arab banks on the sidelines of an Arab Banks Union conference, discussing licenses for new banks in Syria.
Key points
- Governor Mohamad Safwat Raslan met Arab bank representatives in Amman on September 21, 2026
- Talks included National Bank, Union Bank, Commercial Bank and Banque Libano-Française group banks
- Discussions covered licensing and establishing new banks in Syria to support reconstruction
- No actual license has been granted to any new bank so far
- Raslan also explored creating a Syrian bankers' association with the Arab Banks Union
What happened at the Amman banking meetings?
On the sidelines of the Arab Regional Conference on Supporting Development and Investment in Syria, organized by the Union of Arab Banks in the Jordanian capital Amman, Syria's Central Bank Governor Mohamad Safwat Raslan held a series of bilateral meetings on September 21, 2026 with representatives of several Arab banks. The meetings included Al-Ahli Bank, Al-Ittihad Bank, Al-Tijari Bank and Banque Liban et d'Outre-Mer, attended by representatives of several Syrian private banks.
Why do Arab bank licenses matter for Syria?
Syria's banking sector is small and isolated after years of conflict and sanctions, and reconstruction will require far larger financing channels. The Amman talks addressed strengthening banking cooperation, opening joint working channels, and granting licenses for new banks in Syria — steps directly tied to development and reconstruction efforts.
It is important to stress that these talks do not mean any Arab bank has received an actual license so far. The discussions concern licensing procedures, establishment and future cooperation; any concrete outcome would require an official announcement.
A Syrian bankers' association and legislative support
Raslan also met Wissam Fattouh, Secretary General of the Union of Arab Banks. They discussed drawing on the Union's expertise in drafting banking laws and legislation, and the possibility of creating a bankers' association in Syria that would serve as an umbrella framework for the banking sector, potentially giving Syrian banks a stronger institutional voice.
What does this mean for Syrians?
If these talks translate into actual licenses, Syrians could see new Arab banks expanding services for individuals and companies and strengthening financial links between Syria and Arab countries, including for remittances from the diaspora. For now, however, there is no immediate change in available banking services, as the process remains at the negotiation stage with no announced license.
Frequently asked questions
Have Arab banks been licensed to operate in Syria?
No. No actual license has been announced for any new bank so far. The Amman meetings between the central bank governor and Arab bank representatives discussed licensing, establishment and future cooperation, without final results.
Who did Syria's central bank governor meet in Amman?
On September 21, 2026, Mohamad Safwat Raslan met representatives of Al-Ahli Bank, Al-Ittihad Bank, Al-Tijari Bank and Banque Liban et d'Outre-Mer, as well as Wissam Fattouh, Secretary General of the Union of Arab Banks.
What was the goal of the Syrian central bank's Amman talks?
The goal was to strengthen banking cooperation, open joint working channels, and discuss granting licenses and opening new banks in Syria to support the banking sector and reconstruction efforts.
Will a bankers' association be created in Syria?
The possibility of creating a bankers' association in Syria as a unified framework for the banking sector was discussed with the Union of Arab Banks, but no official decision has been made yet.
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