The Syrian banking sector is poised for its first significant foreign ownership change since the start of the civil war, as brothers Moutaz and Ramiz Al-Khayyat prepare to acquire substantial stakes in multiple Syrian banks. The move signals a growing, albeit cautious, return of foreign investment into the war-torn nation.
According to reports, the Al-Khayyat brothers, whose wealth originates from a Syrian-Qatari business background, are finalizing deals to take controlling interests in several Syrian financial institutions. While the specific banks involved have not been officially disclosed, sources indicate the acquisitions are underway and represent a significant injection of capital into the Syrian economy.
The potential for foreign ownership was unlocked by a new investment law passed by the Syrian government in 2025, which permits 100% foreign ownership of projects within the country, eliminating the previous requirement for a local partner. This legislative shift is widely viewed as a key component of the government’s strategy to attract foreign capital and accelerate reconstruction efforts.
The timing of these acquisitions coincides with a broader trend of increasing economic engagement with Syria. Recent months have seen a surge in investment memorandums of understanding signed with investors from Qatar, Saudi Arabia, the United Arab Emirates, and other nations, covering sectors including energy, infrastructure, and technology. An economic analyst, Ahmed Al-Ammar, noted that the influx of foreign investment, particularly from Gulf states, will provide a “strong boost” to the reconstruction phase, with the construction and real estate sectors expected to benefit significantly. [1]
Syria is entering a new economic phase, transitioning from post-war recovery towards a comprehensive rebuilding of its economy, potentially becoming one of the largest reconstruction markets globally over the next decade. [2] Opportunities for investment are being actively promoted, with a focus on key sectors such as construction, industry, agriculture, energy, and infrastructure. Syria Rebuild, a dedicated investment portal, highlights these opportunities and offers support to potential investors. [4]
Yet, the move by the Al-Khayyat brothers and the broader opening to foreign investment are not without risk. Concerns remain regarding the political and economic stability of Syria, as well as the potential for sanctions and other geopolitical challenges. The Syrian government has offered incentives and facilitated procedures to attract investors, but the long-term impact of these measures remains to be seen. [3]
As of Wednesday, February 18, 2026, neither the Syrian government nor the Al-Khayyat brothers have issued official statements confirming the finalization of the bank acquisitions. Further details regarding the scope and terms of the deals are expected in the coming weeks.
