Interview: Sami Mounayer, CEO, Ahli Trust Bank, on the importance of digitalisation and improving information infrastructure
By what means is the banking sector adapting retail and lending models for small and medium-sized enterprises (SMEs) amid low purchasing power?
SAMI MOUNAYER: The core challenge is the mismatch between household incomes and the repayment standards required for retail lending. Wages are too low to meet the typical 30% debt-service threshold, so even where demand exists, many borrowers cannot qualify for consumer or housing finance. For SMEs, the issue is semantics. Most firms now fall below the previous SME threshold and what used to be considered a mid-sized enterprise is, in practice, closer to a microbusiness. That makes it harder to design products or assess risk, especially given the heavy impact the past decade has had on smaller firms. As a result, banks prioritise lending where financial statements exist and activity is already established, particularly working-capital facilities with short maturities and clearer collateral. Very small enterprises are often better served by microfinance institutions.
What data-infrastructure upgrades would expand lending while improving risk assessment?
MOUNAYER: Improving information infrastructure would unlock more lending than any individual product change. Syria lacks a credit-scoring system so banks must rely on collateral for nearly all consumer loans, which narrows eligibility. On the corporate side, banks have limited access to financial data and firms are not required to provide formal statements. Without reliable information, banks cannot assess risk or price credit appropriately. This is compounded by collateral gaps, which further restrict lending capacity. A national credit bureau and an accredited financial information authority would significantly improve visibility for both consumer and corporate clients. These tools would allow banks to evaluate borrowers more accurately and safely expand their portfolios. The sector has raised these needs with regulators and there is broad recognition that better data is central to rebuilding credit markets.
In what ways could accelerated digital-payments adoption help formalise the financial system?
MOUNAYER: Digitalisation is increasingly essential.
Syria remains heavily cash based despite a shortage of physical banknotes and managing cash has become a daily operational burden for banks, households and businesses. Counting, securing and transporting cash consumes significant labour and cost. Expanding the use of cards, point-of-sale systems and electronic transfers would ease these pressures and move activity into the formal financial system. As transactions become digital, banks gain access to spending patterns, income flows and business performance. Digitalisation will not resolve income constraints or replace the need for formal credit bureaus but it is a step towards a more information-rich and efficient banking environment.
How will the reopening of correspondent-banking channels and foreign interest reshape banking?
MOUNAYER: For many years, banks were unable to process international transfers or issue trade-finance instruments. The gradual return of correspondent relationships has reconnected Syria to essential cross-border services such as wire transfers, letters of credit and card-acceptance networks. This reopening coincides with renewed interest from foreign investors, particularly Syrians abroad who are opening accounts, establishing offices and exploring opportunities linked to reconstruction. Their engagement suggests that confidence in the operating environment is returning.
If sanctions ease as expected, competition will likely increase. Banks are preparing to strengthen their market positions before new entrants arrive. The trajectory is positive: greater international connectivity, more diverse financing options and a rebuilding of financial architecture. We are optimistic that, working together, Syrians can overcome these obstacles, with the central bank supporting the sector, strengthening the financial system and contributing to a better Syrian economy.
Read More from OBG
