SIIB has started its operational activity this year in a new banking environment distinguished by its elements, and integrated legislative banking and financial framework, which the CBS seeks constantly to support and consolidate to give the bank system an increasing role in the economic work system.
The bank commencement in 2008 has been distinguished by the arrangement and organization of its strategic trends benefiting from the new banking environment, its solid capital base, the confidence of the Syrian society (individuals, institutions and companies), and from its sound institutional framework where the bank financial performance in its first year 2008 was a good and suitable performance in competitive circumstances within the banking market and the accelerated development in the banking activities.

In these circumstances, the bank could consolidate its strategic presence and existence in the market and achieve qualitative and quantitative financial results exceeded its objectives in its strategic plan. The bank's pre tax profits amounted to (207.8) million SYP. The bank assets (35.9) billion SYP. The bank also could establish a wide base of clients, where the value of unrestricted investment accounts and deposits reached to (30) billion SYP. The gross of financing activities and funding according to the Islamic funding forms was (12.2) billion SYP, which were granted to the different economic sectors. The volume of investments/Murabaha in the Islamic agencies amounted to (11.4) billion SYP.

These results are also due to the good work strategies drawn up by the bank’s Board of Directors to develop the assets and liabilities and to disseminate investments taking into account the high feasibility and low risk investment opportunities.
To secure the realization of the drawn up strategic objectives and to be impressive in our performance, the bank formulated and applied during 2008 a package of strategies one of them is the strategy of developing and creating Islamic banking products and services, and investment and funding programs that meet the needs of the different classes of the society. Besides, applying and implementing a strategy of being distinguished in the human resources through working on developing and qualifying all the staff to have more capacity, competency and awareness of the Islamic banking business in particular and the banking business in general.

Recognizing the importance of the proactive/pre-emptive risk management, a strategy for risk management was drawn up and a specialized management was established for this purpose.

The bank also adhered to the standards and the integrated control framework of the work of Islamic banks and to the directions of CBS and the international standards.

Thus, we will continue to complete forming the specialized units capable of dealing with the requirements of Basel II next year.

Executive management