Turkish banks set to enter Syria as financial ties expand

GAZİANTEP, Türkiye (MNTV) – Türkiye and Syria have reached an agreement allowing Turkish banks to establish branches in Syria, marking a new phase in growing economic cooperation between the two countries, Turkish officials said.

Turkish Trade Minister Ömer Bolat announced the development during a Turkish–Syrian economic forum held in Gaziantep, noting that work is underway on necessary amendments to Syria’s banking regulations while central bank-level consultations continue.

According to Hurriyett Daily, officials also said discussions are ongoing regarding Syria’s currency printing arrangements, reflecting broader efforts to stabilize and rebuild financial systems in the country.

The forum was attended by Syrian Economy and Industry Minister Mohammad Nidal al-Shaar, highlighting renewed engagement between Ankara and Damascus.

Bolat said both sides are aiming to significantly expand bilateral trade, setting a short-term target of $5 billion annually within two years, with a longer-term goal of reaching $10 billion in the early 2030s.

He also confirmed that preparations to reopen the İslahiye border crossing in Gaziantep have been completed, and that the two countries will announce its reopening once final procedures are concluded.

Out of 12 border crossings between Türkiye and Syria, six are currently operational, reflecting gradual normalization of cross-border movement and trade.

Syrian officials emphasized that closer ties with Türkiye provide economic stability and confidence amid regional uncertainty, describing Türkiye as a key strategic partner in reconstruction and trade development.