Estithmar Holding Q.P.S.C. announced the completion of the transfer of a 48.68% stake in Shahba Bank to Masaref Holding LLC, a subsidiary of Estithmar Capital, the group's financial services and investments arm. As a shareholder, Masaref Holding said it intends to support the assessment of proposals aimed at strengthening Shahba Bank's financial, operational and technological capabilities, including potential capital enhancement, branch network expansion, and the development of products and services for individuals, businesses and SMEs. The proposals may also include modernizing banking and operational systems, developing digital services, and strengthening governance, compliance, risk management and cybersecurity, all subject to feasibility studies, Shahba Bank Board decisions, relevant General Assembly approvals, and applicable regulatory and supervisory approvals. Chairman Moutaz Al-Khayyat said the investment reflects confidence in Syria's economic potential, while CEO Basel Shaddad said the transfer strengthens Estithmar Holding's leadership in the region's financial sector, with the company's market capitalization now above USD 5 billion. Central Bank of Syria Governor Mohammad Safwat Raslan welcomed the entry of new institutional investment into the Syrian banking sector, and Estithmar Capital Group CEO Fadi Salim Al Faqih said the investment marks the beginning of a new phase in its shareholding in Shahba Bank.
Central Holding Group Co Ltd
