Syria and Saudi Arabia discuss joint bank and housing cooperation

Syria and Saudi Arabia are exploring expanded economic and financial cooperation. The Central Bank of Syria and the Saudi-Syrian Business Council have discussed establishing a joint bank to facilitate investments and streamline money transfers between the two nations. This initiative aims to support major projects, particularly in the tourism and real estate sectors, by providing more effective financial channels for investors.

In the housing sector, Syria’s Ministry of Public Works and Housing met with executives from Saudi Arabia’s National Housing Company (NHC) to discuss exchanging expertise. The discussions focused on leveraging Saudi models and technologies to address housing needs in Syria, with an emphasis on distributing projects across provinces and prioritizing areas most affected by conflict. Both sides agreed to organize workshops to create a roadmap for cooperation in residential development.