Syria Gulf Bank Announces the Formation of a New Board of Directors Chaired by United Gulf Holding Company

Syria Gulf Bank announced the formation of a new Board of Directors, chaired by United Gulf Holding Company, one of the companies of Kuwait Projects Holding Company (KIPCO). United Gulf Holding is represented by four members on the Board of Directors. This step reflects a clear strategic direction toward enhancing institutional stability, consolidating organized banking operations, and moving into a new phase of well-considered professional performance.

In this regard, Mr. Masaud Hayat, Chairman of the Board of Directors of Syria Gulf Bank, expressed his thanks and appreciation to the Governor of the Central Bank of Syria, as well as to the official and regulatory authorities, for their continued support of the Bank and their backing of its investment path. Mr. Hayat stated:

“The formation of the new Board of Directors constitutes a pivotal milestone in the Bank’s journey and establishes the foundation for an advanced institutional phase based on deep banking and investment expertise. It focuses on reactivating the Bank’s role in the Syrian banking sector within a clear vision founded on administrative discipline, improving management and operational efficiency, and enhancing the quality of banking services.”

Furthermore, he confirmed that the new Board of Directors operates within a comprehensive institutional governance framework, based on consolidating the principles of sound corporate governance and applying best practices in prudent banking. This is carried out with full adherence to applicable laws and regulations, as well as to the decisions and directives of the Central Bank of Syria, ensuring the regularity and sustainability of institutional operations and strengthening the Bank’s resilience and capacity to perform its banking role efficiently and responsibly.

This step supports the overall vision for the next phase, which will witness a direct focus on developing banking products and services in line with market requirements and customer needs, in addition to strengthening internal control systems and institutional oversight mechanisms, improving the work environment, and enhancing human resource efficiency. This is expected to positively reflect on performance levels and the quality of services provided, and to reinforce customers’ confidence in the Bank.

It is worth noting that Syria Gulf Bank’s affiliation with a regional banking and investment group of the scale of KIPCO Holding Group constitutes a real added value, enhances the Bank’s institutional strength, and supports its orientation toward sustainable growth, enabling it to be an effective banking institution and a reliable partner in supporting economic activity in the coming period.