Banque BEMO Convenes a Panel Discussion on Business Opportunities in Syria

Beirut, July 21, 2026 – Banque BEMO convened a panel discussion entitled “Business Opportunities in Syria.” The event was held on the campus of ESA Business School, bringing together prominent Lebanese and Syrian voices from the banking, legal, and business communities to examine the prospects emerging from Syria’s present economic opening.

The event was opened by Dr. Riad Obegi, Chairman of the Board of Banque BEMO. It convened four panelists: Dr. Laila Al Samman, President of the Syrian Lebanese Business Council; Me. Youssef el-Hakim, Managing Partner of Hakim Law Firm; Ms. Nada Saliba, Deputy CEO of Banque Bemo Saudi Fransi (BBSF – Syria); and Mr. Antoine Miskawy, Senior Director of Corporate Banking at Banque BEMO. It was presented by Mrs. Claudine Feghaly, Executive Director at Banque BEMO.

The event brought together a distinguished audience of Lebanese and Syrian participants from a wide range of sectors, including business leaders, non-governmental organizations, as well as representatives of numerous embassies with an interest in Syria.

A Frontier Next Door

In his opening remarks, Dr. Riad Obegi described Syria as one of the region’s most significant emerging opportunities. “Syria is the new frontier — but it is for Lebanon the new frontier next door, not one two thousand kilometers away,” he told the audience, noting that Syrian society carries a collective memory spanning generations, which makes ethical conduct a precondition for any lasting engagement with the Syrian market. 

He encouraged attendees to forge direct relationships with the panelists, to consider joining the Syrian Lebanese Business Council, and to plan visits to Syria, while pointing to visible signs of normalization, including improved public order, progress in restoring electricity, and a functioning banking system. He also encouraged those of Syrian descent in the room to reclaim their citizenship.

A Bridge Between Two Markets

Dr. Laila Al Samman, President of the Syrian Lebanese Business Council (SLBC), presented the council’s role in the emerging economic relationship between the two countries. “We are a business platform dedicated to strengthening economic, trade, and investment cooperation between Syria and Lebanon,” she said, describing a recent visit by Lebanon’s Minister of Economy, Dr. Amer Bisat, to Syria, which included a meeting with President Ahmed al-Sharaa and discussions with several Syrian ministries on matters related to tourism, investment, and sovereign fund cooperation, culminating in the establishment of a joint committee to advance government-level coordination between the two countries.

Dr. Al Samman also outlined recent reforms under Syria’s revised investment law, including customs relief on industrial equipment, income tax incentives, expanded rights for foreign investors to own and lease land, and provisions allowing the repatriation of capital and profits. She noted that Syria’s tax laws are currently being revised, with a new sales tax expected to replace the existing consumer expenditure fee later this year. She announced that the SLBC will hold a major business forum in Syria by the end of September 2026, and encouraged Lebanese investors to engage now rather than wait.

Syria’s Investment Case

Mr. Antoine Miskawy, Senior Director of Corporate Banking at Banque BEMO, presented the economic and geopolitical case for investing in Syria. “Why Syria? Since ancient history, Syria has been the link between continents — from the Far East all the way to Europe and Africa,” he began, pointing to the country’s ports at Tartus and Latakia and its improving political trajectory following the easing of international sanctions, including the repeal of the Caesar Act. He cited Syria’s young population and its diaspora — estimated at five million people — as a source of capital and expertise for the country’s recovery.

Drawing on figures presented to the panel, Mr. Miskawy noted that Syria’s 2025 state budget was set at approximately USD 10.5 billion, directed largely toward infrastructure, hospitality, and education, with GDP for the year estimated at around USD 65 billion. He pointed to growing international interest across sectors including oil and gas, phosphate, and agriculture, alongside a distinct and growing interest in themes such as sustainability, artificial intelligence, and digital transformation, and cited estimates — including from the World Bank — placing Syria’s reconstruction bill at approximately USD 216 billion, concentrated mainly in Aleppo, Damascus, and Homs. He noted that international commitments to Syria have already surpassed USD 56 billion, with active interest from Saudi Arabia, Qatar, Turkey, China, and France, and encouraged Lebanese banks and businesses to position themselves within this emerging landscape.

Banking Infrastructure for Investors

Ms. Nada Saliba, Deputy CEO of Banque Bemo Saudi Fransi (BBSF), presented BBSF as Syria’s first private bank, listed on the Damascus Securities Exchange. She presented the bank’s network of 35 branches across the country, its digital banking services, and its role in supporting new investors — from securing entry permissions and legal introductions to account opening and partner matchmaking.

Ms. Saliba also noted that BBSF has rebuilt correspondent banking relationships across Lebanon, the Gulf, Europe, and China since the easing of sanctions, and highlighted the bank’s compliance framework, including FATCA compliance and anti-money laundering controls, as reassurance for international investors. “We are highly optimistic about the economic prospects of Syria,” she concluded, “and we invite you to join us in this promising venture.”

Legal Considerations for Market Entry

Responding to questions from the audience, Me. Youssef el-Hakim, Managing Partner of Hakim Law Firm, addressed the legal considerations facing foreign investors entering Syria, including the choice between operating as a branch, a locally incorporated company, or through a Syrian partner, and the registration requirements applicable to contracts exceeding six months. 

Discussion Highlights

The panel was followed by an extended question-and-answer session in which panelists addressed a wide range of practical concerns raised by attendees, including the mechanics of cross-border bank transfers, the structure of Syria’s sovereign wealth fund, the pace of reconstruction and real estate development, the status of Syria’s public-private partnership legislation, and the current stability of the Syrian pound. Panelists agreed that while Syria’s economic opening remains at an early stage, the country’s trajectory, institutional reforms, and renewed regional and international engagement present a substantial and timely opportunity for Lebanese businesses.

Through this event, Banque BEMO reaffirms its commitment to institutional dialogue as a foundation for economic recovery, and its continued support for platforms — such as the Syrian Lebanese Business Council — that strengthen ties between the Lebanese and Syrian private sectors. BEMO firmly believes in the potential of the Syrian market and in the considerable promise it holds for a Lebanese private sector deeply tested by years of national crisis, and is convinced that this market represents a tremendous opportunity for Lebanese companies. Banque BEMO Lebanon and BBSF Syria remain committed to doing everything within their power to strengthen economic ties between the two countries, in the best interest of both *Lebanon and Syria*.