| • AL Baraka Bank |
| • Syria International Islamic Bank |
| • Cham Bank |
Private Islamic banks began operating in the Syrian market in 2006, based on Decree No. 35 of 2005, which allowed their establishment, in accordance with the legal foundations, formulas and procedures stipulated in the Law on the Establishment of Private Banks in Syria No. 28 of 2001. Islamic banks carry out their activities under the supervision and control of the Central Bank of Syria and the supervision of the Shariah Board Committee emanating from the Monetary and Credit Council, to manage Shariah matters in relation to Islamic banking in Syria.
A private Islamic bank commenced operations in 2007. Operating as a joint-stock company, it is governed by the regulations stipulated in the Central Bank of Syria Law, the Basic Monetary System Law No. 23 of 2002, and the provisions of Legislative Decree No. 35 of 2005, regarding the establishment and founding of Islamic banks in Syria. Since 2009, the bank has been listed on the Damascus Securities Exchange, with a capital of 15,000,000,000 Syrian pounds.
A private Islamic bank commenced operations in 2007. Operating as a joint-stock company, it is governed by the regulations stipulated in the Central Bank of Syria Law, the Basic Monetary System Law No. 23 of 2002, and the provisions of Legislative Decree No. 35 of 2005, regarding the establishment and founding of Islamic banks in Syria. Since 2014, the bank has been listed on the Damascus Securities Exchange, with a capital of 6,000,000,000 Syrian pounds.
