Syria appoints Omar al-Halabi to lead sovereign wealth fund

Syrian President Ahmad al-Sharaa has appointed Omar al-Halabi as presidential adviser for economic affairs and chairman of the board of the Syrian Sovereign Fund (SSF). The appointment, announced via presidential decree on October 18, also includes Halabi's addition to the Supreme Council for Economic Development.

Halabi brings over 20 years of experience in economic policy, institution building, and sovereign investment. He previously served as the head of economics and public policy advisory for the Middle East at KPMG and has experience working with Saudi Arabia’s Public Investment Fund. His role is central to the transitional government’s efforts to manage state assets, oversee investment projects, and attract foreign capital to rebuild the economy following years of conflict.

The Syrian Sovereign Fund was established to manage state assets, including those confiscated from individuals associated with the previous administration. While the fund is a key tool for economic reconstruction, some experts have raised concerns regarding its transparency.