Ziraat Bank Poised to Enter Syrian Market

Turkish state lender Ziraat Bank aims to start banking in Syria, coordinating with its central bank. CEO Alpaslan Cakar confirmed talks with Syrian banks for correspondent relationships and possible partnerships. The Syrian Central Bank has not yet responded to requests for comment.

Ziraat Bank, a Turkish state-owned financial institution, has announced its plans to initiate banking operations in Syria. This strategic move aims at broadening the bank's market reach amidst ongoing discussions with the Syrian Central Bank.

According to Chief Executive Alpaslan Cakar, the bank has already submitted its proposal to commence these operations and is actively monitoring the situation alongside relevant authorities. The focus is on establishing solid liaisons with existing Syrian banks to fortify correspondent banking relations and explore collaboration opportunities.

Despite Ziraat Bank's enthusiasm, there has been no immediate feedback from the Syrian Central Bank or its Governor Abdelkader Husrieh regarding this potential market entry, as reported by Reuters.

(With inputs from agencies.)