Türkiye’s Ziraat Bank signals readiness for potential ‘joint bank’ in Syria

Ziraat Bank, Türkiye’s largest state-owned bank, has expressed readiness to assume responsibility for establishing a joint bank in Syria if conditions prove favorable, according to the bank’s General Manager Alpaslan Cakar.

In response to a Reuters inquiry about whether pre-war plans for a joint bank in Syria would be revived, Cakar stated that developments in Syria are of critical importance for Türkiye.

“We believe the changes in Syria are of vital importance for our country, and we are closely monitoring developments. If conditions are appropriate, our bank will assume its responsibility, as it has in different regions before,” Cakar said.

Pre-war banking plans suspended

Plans for Ziraat Bank to establish a joint bank in Syria in partnership with a local entity were initially laid out in 2010.

However, these plans were suspended following the outbreak of the Syrian civil war.

The renewed possibility of cooperation comes amid ongoing discussions between Türkiye and Syria’s new administration.