The Qatar Stock Exchange-listed Estithmar Holding has signed an agreement to invest in Shahba Bank through its subsidiary Estithmar Capital. Under the deal concluded in Damascus, Masaref Holding, a subsidiary of Estithmar Capital, will take a 49% stake in Shahba Bank, marking a further step in Estithmar Holding’s regional expansion and deepening exposure to the financial services sector.
Masaref Holding signed the agreement with representatives of Bemo Saudi Fransi Bank and Ahli Trust Bank. The transaction forms part of Estithmar Holding’s strategy to diversify its portfolio and enter high-potential markets through targeted investments that support long-term growth, contribute to economic development in its operating geographies, and deliver sustainable value to shareholders.
The move is expected to enable Masaref Holding to capitalise on opportunities in the Syrian market while supporting Shahba Bank’s growth and development plans, enhancing its operational efficiency and competitive positioning. “This transaction marks an important milestone in Estithmar Holding’s journey to expand its presence in the regional financial sector...Taking a significant stake in Shahba Bank aligns with our strategy to build a diversified investment platform that delivers sustainable growth and creates added value for our shareholders, while supporting economic development across the region,” said Juan Leon, Holding chief executive officer of Estithmar Holding.
The agreement represents a key building block in the rehabilitation of Syria’s banking infrastructure and its reintegration with regional and global markets. This includes attracting foreign investment, modernising the Syrian banking sector and raising its standards, enabling reconstruction efforts, as well as creating employment opportunities and developing national talent. “This step reflects our investment approach of selectively targeting high-potential opportunities.
We see Shahba Bank as a promising platform on which to build, enhancing performance and operational efficiency. We look forward to working closely with the management team to support expansion plans and deliver banking services that meet market expectations, strengthening the bank’s competitiveness and standing,” said Fadi al-Faqih, chief executive officer of Estithmar Capital.
Estithmar Holding operates across several verticals, including healthcare, services, tourism and real estate development, as well as specialised contracting and industries. The company employs more than 28,000 people from more than 100 nationalities and maintains a presence in more than 10 countries.
