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Turkish banks are preparing to launch operations in Syria in the near future, Trade Minister Ömer Bolat said on Tuesday, as Türkiye adds momentum to efforts to help its neighbor recover its war-torn economy.
Bolat also emphasized the growing pace in talks aimed at involving Turkish contractors in Syria’s rebuilding process. He was speaking at the signing ceremony of the founding protocol of the Türkiye-Syria Joint Economic and Trade Committee (JETCO) in Ankara.
“Turkish and Syrian businesspeople are coming together today and tomorrow under the coordination of TOBB and DEIK,” Bolat said, referring to the Union of Chambers and Commodity Exchanges of Türkiye and the Foreign Economic Relations Board.
“The Türkiye-Syria Business Council is being reestablished, and its founding agreement will be signed tomorrow between Turkish and Syrian institutions at DEIK,” he noted.
Bolat said preparations are underway for Turkish financial institutions to enter the Syrian market. “Our banks are also preparing to begin operations in Syria in the short term,” he added.
His announcement comes days after representatives from Türkiye’s Treasury and banking sector reportedly met with Syrian officials in Damascus to explore potential cooperation in banking, insurance and public finance.
Before the Syrian civil war, Türkiye’s largest lender, Ziraat Bank, had been in talks to establish a bank in Syria with a local partner in 2010, but those plans were suspended with the onset of the conflict. Currently, no Turkish banks operate in Syria.
Following the ousting of longtime dictator Bashar Assad in December, Ziraat Bank General Manager Alpaslan Çakar had told Reuters that the bank would be ready to take on responsibility in Syria if conditions allowed.
Broader reconstruction-focused talks are ongoing between Türkiye and the Syrian interim government, particularly in sectors such as energy and infrastructure, as part of efforts to stabilize and rebuild the country.
“Turkish entrepreneurs led by contractors are eager to play an active role in the reconstruction of Syria, including infrastructure, superstructure and social housing,” Bolat said. “Discussions between business communities and contractors from both countries are accelerating.”
