Cham Bank

What Cham Bank does

Cham Bank (Bank Al-Sham) is Syria's first Islamic bank, established in 2006 and headquartered in Damascus under registration with the Central Bank of Syria (number 15). The bank operates as a publicly listed joint-stock company on the Damascus Securities Exchange, offering Sharia-compliant banking services under the supervision of both the Central Bank and an internal Sharia Supervisory Board. As of 2021, Cham Bank's share capital stood at SYP 9 billion, total assets reached SYP 395.2 billion (2020), and the institution maintained 11+ branches spanning 8 Syrian governorates (Damascus, Rif Dimashq, Daraa, Homs, Hama, Aleppo, Tartus, Latakia).

Cham Bank's core offerings span Islamic financing products under Murabaha (cost-plus) and Musawama (bargaining) structures — including real estate, vehicle, consumer goods, renovation, education, and SME financing — alongside demand and investment deposit accounts with profit-sharing mechanisms. Revenue is generated primarily through profit margins on financing extended across retail and corporate customers, supplemented by transaction fees from trade finance (letters of credit), card operations, POS networks, and digital banking services. The bank's distribution combines physical branches, mobile offices in Damascus and Tartus, drive-through ATMs (first in Syria), POS terminals, a call center (011-9398), and digital channels including the Cham Mobile app, Cham Online internet banking, Cham SMS, and Cham Xpress cash delivery service. Customer segments include individual retail customers, corporate and SME clients, professional associations, students/educational institutions, and charitable organizations, reached through a sales-led GTM motion combining direct branch sales, partnerships with professional syndicates, and CSR-driven community engagement.

The bank differentiates through multiple first-in-Syria innovations (QR-code money transfers, drive-through ATM, Cham Xpress, Musawama zero-profit financing, phone appointment booking) and ISO certifications (ISO 9001:2015 and ISO 27001:2013 — the latter making it the first Syrian bank to achieve information security certification). The bank serves a market constrained by the Syrian economic and geopolitical environment, with revenue denominated in a highly volatile local currency, and operates exclusively within Syrian borders with no disclosed international expansion.

Name

Cham Bank

Legal name

Cham Bank (Bank Al-Sham)

Website

https://chambank.com

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

251–500 employees

Short description

Cham Bank is Syria's first Islamic bank, providing Sharia-compliant retail and corporate banking including Murabaha financing, deposit accounts, digital banking, and POS services across 8 governorates with 11+ branches.

Ownership category

akta.pro rank

Product category

Islamic Banking

NAICS

Depository Credit Intermediation (5221), Commercial Banking (522110), Commercial Banking (52211)

SIC

National Commercial Banks (6021), State Commercial Banks (6022)

akta.pro primary industry

Islamic Retail Banking (FSABAGAA)

akta.pro secondary industries

Islamic SME & Commercial Banking (FSABAGAB), Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH), Islamic Investment Banking & Capital Markets Services (FSABAGAG), Islamic Deposit & Account Products (Current/Savings/Investment Accounts) (FSABAGAI)

Keywords

• Islamic banking services
• Sharia-compliant financing
• Retail banking Syria
• Corporate banking services
• SME financing products

Headquarters

HQ city

Damascus

Offices17 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Islamic Financing (Murabaha, Musawama): The bank provides Sharia-compliant financing products including Murabaha (cost-plus financing), Musawama (selling), and Ijara (leasing) for individuals and corporate clients. Revenue generated through profit margins on financing extended for real estate, vehicles, consumer goods, and business purposes.
2. Deposit Accounts and Investment Accounts: The bank accepts deposits and manages investment accounts under Islamic principles, providing competitive profit distribution rates to depositors while utilizing funds for financing activities.
3. Electronic Banking Services: Revenue from digital banking services including mobile banking, internet banking, SMS alerts, and card management services.
4. Trade Finance Services: Letters of credit, documentary credits, and trade finance facilities for corporate clients engaged in import/export activities.
5. Commercial Banking Services: Corporate banking services including cash management, business accounts, and SME financing.
6. Card Operations: ATM card issuance, Trust Card services, and payment processing through POS terminals.

Pricing tiers

Go-to-market motion1 record

Distribution channels9 records

Marketing channels6 records

Core offering

Cham Bank operates as Syria's first Islamic bank, providing Sharia-compliant banking products and services including Murabaha (cost-plus) and Musawama (bargaining) financing for individuals and corporates, demand deposit and investment accounts, corporate banking, trade finance, SME financing, and a suite of electronic banking channels (mobile app, internet banking, SMS alerts, POS, QR-code payments, and digital account opening). The bank distributes these services through 11+ branches across 8 Syrian governorates and digital channels.

Product overview

Cham Bank operates as a comprehensive Islamic banking institution in Syria offering a unified banking platform with multiple interconnected products and services. The core offerings include: (1) Islamic financing products under Murabaha (cost-plus) and Mosawaha (bargaining) structures for real estate, vehicles, consumer goods, and SME growth; (2) electronic banking services through Cham Mobile app, Cham Online internet banking, Cham SMS notifications, and a call center at 011-9398; (3) payment services including POS terminals, electronic payment gateways, QR-Code money transfers, school/university fee payments, and Cham Direct Debit for bill payments; (4) card services with debit cards and Trust Card offerings; (5) account services including demand deposits and investment accounts with profit-sharing. The bank has pioneered innovative services in Syria including Cham Xpress cash delivery, Drive-through ATM, and phone appointment booking ('Letkun Awalan'). The products integrate through the bank's digital infrastructure enabling cross-service access via mobile and internet channels.

Differentiator

Problem solved

Functional benefit

Brands

• Cham Xpress: Cash delivery service — the first of its kind in Syria — enabling cash delivery to customers without visiting branches or ATMs.
• Cham Mobile
• Cham SMS
• Cham Online
• Letkin Awwalan (لتكن أولاً)
• Al-Ghali Yibtqassatlek (الغالي بيتقسطلك)
• Kabber Mashrouak (كبّر مشروعك)
• Musaawama (المساومة)
• Trust Card

Products and services

• Murabaha Financing (Cost-Plus Financing) Sharia-compliant cost-plus financing product for individuals purchasing real estate, vehicles, and consumer goods, structured under Islamic principles with disclosed profit margins.
• Real Estate Financing Real estate financing for individuals with 12-60 month terms, financing from 1,000,000 SYP up to 100,000,000 SYP, and down payments starting at 25-35% of purchase price.
• Renovation and Construction Materials Financing Financing for renovation, finishing, and construction materials with amounts from 500,000 SYP up to 75,000,000 SYP, down payment 35% (0% for payroll customers).
• Furniture and Electrical Appliances Financing Financing for furniture and electrical appliances with repayment terms up to 3-4 years and a maximum amount of 25,000,000 SYP.
• Samsung Mobile Device Financing Installment financing for Samsung mobile devices with minimum 150,000 SYP and 12-48 month terms, 25% down payment (0% for payroll customers).
• Education Financing Financing product launched to support students pursuing university and postgraduate studies in Syria, with amounts up to 5,000,000 SYP.
• Musawama (Zero Profit) Financing Bargaining/trade financing product with 0% profit margin for consumer goods and 0% down payment option for qualified customers; first of its kind in Syria.
• Kabbir Mashrouak SME Growth Financing Small and medium enterprise financing product for purchasing productive assets, with amounts from 50 million to 250 million SYP.
• Corporate Banking Services Comprehensive banking services for large, medium, and small enterprises including cash management, business accounts, trade finance, and commercial financing.
• Demand Deposit Accounts Current account services for everyday banking needs with instant access to funds for individuals and businesses.
• Investment Accounts Investment account services with profit-sharing mechanisms compliant with Islamic law, providing competitive profit distribution rates to depositors.
• Cham Mobile Banking Application Mobile banking application for iOS and Android enabling account management, fund transfers, QR-code transfers, and other banking services via smartphones.
• Cham Online Internet Banking Internet banking platform providing online access to banking services including account access, transfers, and transaction management.
• Bank Cards Debit and credit card services for cash withdrawals, purchases, and electronic payments issued to retail and corporate customers.
• Trust Card Specialized card service offered by Cham Bank for banking transactions.
• Point of Sale (POS) Terminal Service Point of Sale terminal service enabling merchants across Syria to accept electronic card payments from bank customers.
• E-Payment Gateway Electronic payment gateway enabling online transactions, bill payments, and merchant collections.
• Cham Xpress Cash Delivery Cash delivery service enabling cash delivery to customers without visiting branches or ATMs; first service of its kind in Syria.
• Drive-through ATM Service ATM service enabling customers to conduct cash withdrawals while remaining in their vehicles; first in Syria.
• Digital Account Opening (E-Account) Digital account opening and management service enabling customers to open accounts online without branch visits, including Biday student accounts.
• School and University Electronic Payment Service Electronic payment service enabling private schools and universities to receive fee payments electronically from students and parents.

Quantifiable outcome

• 923% increase in net profit in 2020 compared to previous year
• +3 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature10 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Damascus Dentists Syndicate (نقابة أطباء الأسنان بدمشق)coreStrategic or Co-development Partner · 6 July 2021MoU signed for providing comprehensive financial services to syndicate members including Murabaha financing for renovation materials, ready properties, furniture, electrical devices, medical equipment and clinic setup, education, and travel at competitive rates. Also includes electronic payment services, E-Account, POS terminals, SMS, and mobile banking.
• Al-Furqan Charity Association (جمعية الفرقان الخيرية)minorStrategic or Co-development Partner · 2 September 2020MoU for sponsoring university students meeting academic criteria (80%+ average in high school) in medical and engineering disciplines at Damascus University or government universities in Syria.
• Damascus Securities Exchange (سوق دمشق للأوراق المالية)coreStrategic or Co-development Partner · 15 October 2019Bank's shares listed and actively traded on the exchange. Partnership for listing shares and supporting capital market development in Syria.
• Syrian Development Authority / Youth Project (الأمانة السورية للتنمية - مشروع شباب)minorStrategic or Co-development Partner · 4 August 2019Training partnership providing 30-hour training programs delivered by bank staff covering Islamic banking principles, account types, and financing structures for 30 students.
• Damascus Chamber of Commerce (غرفة تجارة دمشق)minorGTM or Marketing Partner · 24 July 2019Bank conducts seminars on Islamic financing mechanisms and products for Chamber members, promoting financial literacy and banking services.
• Sanad Development Foundation (مؤسسة سند التنموية)coreStrategic or Co-development Partner · 1 January 2019Multi-year partnership including Career Academy project (6-month professional training for 175 beneficiaries), Economic Days program sponsorship, and Shabablink employment initiative. Bank provides training, sponsorship, and mentorship programs for Syrian youth.
• Various Charitable Associations (جمعية الغيث، جمعية العودة، جمعية غراس، جمعية كيوان، جمعية دار الحنان، جمعية الإسعاف الخيري، جمعية الرجاء)minorGTM or Marketing Partner · 1 January 2019Partnerships for implementing CSR programs including food basket distribution during Ramadan, orphan sponsorship, elderly support, and community development initiatives.
• Syrian Universities and Academic InstitutionsminorStrategic or Co-development Partner · 1 January 2019Partnerships with Damascus University, Syrian Private University, Bilad Al-Sham University for student training programs, sponsorship of graduation ceremonies, and professional development initiatives.
• Ministry of Social Affairs and Labor (وزارة الشؤون الاجتماعية والعمل)coreStrategic or Co-development Partner · 26 November 2017MoU for training and employment coordination. Ministry provides lists of job seekers; bank offers training and employment opportunities with priority for program graduates. Duration of one year, renewable.
• Central Bank of Syria (مصرف سورية المركزي)coreOthersRegulatory oversight and partnership for implementing banking policies, electronic payment systems, and monetary directives. Bank operates under Central Bank supervision and supports implementation of central bank initiatives.

Scale indicators9 records

Recent moves16 records

Expansion highlights5 records

Broad incumbents

• Kuwait Finance House (KFH): Major regional Islamic bank with deep Sharia-governance and full-stack Islamic products. Comparable on Islamic product architecture and governance; CEO Al-Laham has a documented professional history at KFH/Boubyan, making it a strategic reference point.
• Bank Audi Syria: Syrian arm of Bank Audi Group offering corporate, retail, and trade finance services. Comparable as a multi-channel commercial bank competing for the same corporate and high-net-worth deposit pool.
• Al Rajhi Bank: Largest Islamic bank globally by market cap and a benchmark for Islamic retail/SME banking. Comparable as a model Islamic-banking franchise — relevant for benchmarking product strategy, Sharia governance, and digital banking rather than direct in-country competition.
• Abu Dhabi Islamic Bank (ADIB): Large GCC Islamic bank with retail, SME, and corporate Sharia-compliant offerings. Comparable as a regional Islamic-banking incumbent that informs Cham Bank's product roadmap and competitive positioning.
• Bank of Syria and Overseas: One of the largest privately owned conventional banks in Syria, with a broad branch network and full corporate/retail product set. Comparable as a domestic commercial-banking competitor though operating on a conventional rather than Islamic model.
• Banque Bemo Saudi Fransi: Established Syrian private bank with a significant branch network and corporate/SME banking focus. Comparable as a competitor for corporate deposits, trade finance, and SME lending within Syria.

Direct peers

• Syria International Islamic Bank (SIIB): Another Islamic bank operating in Syria with a similar Sharia-compliant product set (Murabaha, trade finance, retail deposits) and overlapping branch coverage. The closest direct competitor in the domestic Islamic-banking niche.
• Al Baraka Bank Syria: Syrian subsidiary of the Al Baraka Banking Group offering Islamic retail and corporate banking products. Comparable on Sharia-governed deposit and financing products inside the same Syrian market.

Others

• Damascus Securities Exchange: Sole securities exchange in Syria where Cham Bank's shares are listed. Relevant as the venue defining Cham Bank's public-market liquidity, disclosure regime, and access to equity capital.
• Central Bank of Syria: Regulator and monetary authority that charters Cham Bank (license #15), sets policy rates, and oversees payment-system development. Relevant as the counterparty defining Cham Bank's prudential framework and growth constraints.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xtwitter.com/chamislamicbank
• Facebookfacebook.com/chamislamicbank

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cham Bank