Cham Bank

The Arab Republic of Syria has taken the initiative to permit the private sector to invest in the banking sector which was controlled by the public sector earlier. Investment Dar and a group of shareholders have availed this unique promising opportunity which has resulted from the Syrian government's decision to incorporate Islamic banks that would participate in the incorporation of Cham Bank. This contribution copes with Investment Dar expansion strategy in the banking sector by benefiting from the rewarding opportunities available in this sector, especially that the Arab Republic of Syria has a promising economy and an investment supporting government.

Cham Bank promises to be a leading Syrian Islamic bank to operate in a Shari'ah compliant manner. Investment Dar is the major shareholder in the said bank; bearing in mind that it has completed it's inception procedures after obtaining official authorities approval on its incorporation with a capital US$ 100 Million out of which US$ 50 Million is paid. Investment Dar share is 12.5%.   The bank has a 5 years plan to implement its strategy. The plan aims to develop available investment funds, achieve best usage of financial resources in Shari'ah compliant investment and finance tools, continuous development of human resources, establishment of branches and spreading in Syrian provincial areas through the implementation of the highest international technology specifications. It also aims to achieve highest returns on shareholders investment funds. Studies indicate that Cham Bank will realize remarkable returns for being the first Islamic Bank licensed to operate in Syria. Such markets lack this type of specialized banks.