The Syrian Future Movement is closely following the announcement issued by the Central Agency for Financial Control on Thursday, August 6, 2026, regarding a financial and administrative corruption case at the Real Estate Bank dating back to 2021. The case involved financial losses exceeding $8.4 million USD and 11 million old Syrian pounds. Several officials and the contractor have been referred to the competent judicial authorities, and their assets have been frozen.
According to the investigations conducted by the Agency and published by the official Syrian Arab News Agency (SANA), the contract for developing and modernizing the banking system at the Real Estate Bank was concluded during the era of the ousted regime. This contract was marred by numerous legal, contractual, and financial violations, including concluding the contract without the approval of the Board of Directors, exempting the contracting company from late payment penalties without legal justification, and disbursing the full contract payments in cash through a private money transfer company instead of using proper bank transfers.
The Syrian Future Movement commends the efforts of the Central Financial Control Authority in uncovering this case and sees three key implications:
First, the Syrian Future Movement notes that this revelation embodies the continuity of institutional work in exposing the corruption files of the former regime. This was a systematic and widespread effort that encompassed most vital sectors of the state. We see this continuity as an indication of the state’s seriousness in eradicating corruption and prosecuting those involved, no matter how long it takes.
Second, the Syrian Future Movement points out that this case highlights the gap between legal texts and practices under the ousted regime. The contract was concluded “without the approval of the board of directors,” and payments were disbursed in cash “instead of proper bank transfers.” This reflects a complete absence of governance and oversight, and we see this as further evidence that the system of corruption was not an exception, but rather a standard operating procedure.
Third: The Syrian Future Movement commends the legal measures taken by the agency, which included referring the contractor, the Director General of the Real Estate Bank, his deputy, the Financial Director, the Director of Foreign Relations, and members of the committees to the judiciary, along with imposing a precautionary freeze on their assets.
We see this measure as a clear message that corruption will not go unpunished, and that recovering stolen funds is a national obligation, as emphasized in the Movement’s study published on November 10, 2024, on “Corruption and Nepotism in Syria.”
In this context, the Syrian Future Movement reiterates its consistent positions, published on its official website, which affirm that combating corruption is a top priority, no less important than reconstruction:
- Statement on the Ministry of Finance’s Anti-Corruption Campaign and the Referral of Cases to the Judiciary (dated May 24, 2026): It commended the Ministry of Finance’s anti-corruption campaign and stressed the need for these measures to translate into transparent and sustainable policies.
- Statement on the signing of the Syrian-Saudi Memorandum of Understanding on Combating Corruption (dated June 1, 2026): It welcomed cooperation with Saudi Arabia in this field and emphasized that “transparency and combating corruption are the cornerstones of any successful international partnership.”
- Study “Corruption and Nepotism in Syria” (dated November 10, 2024): The study indicated that combating corruption and recovering looted assets is a top priority, no less important than rebuilding bridges and homes.
However, the Syrian Future Movement believes that uncovering this issue, despite its importance, presents major challenges that require fundamental solutions:
- Recovering wasted funds: Exposing corruption is a first step, but the real challenge lies in recovering looted funds and holding those involved accountable, especially given the scale of the discovered funds, which, according to the head of the agency, amounted to approximately 679.5 billion Syrian pounds and $3.41 billion in 2025 alone.
- Preventing the recurrence of past practices is crucial. Judicial measures alone are insufficient to prevent the recurrence of corruption unless accompanied by legislative and institutional reforms that prevent circumvention of the law, similar to what was stipulated in the memorandum with Saudi Arabia regarding the use of artificial intelligence and the launch of a digital platform for government contracts.
- The need for a proactive oversight system is paramount. We emphasize and endorse the head of the oversight body’s assertion that corruption “was not merely a series of isolated incidents.” This necessitates building a proactive oversight system based on data and intelligent analysis, rather than simply monitoring violations after they occur.
Based on its national responsibility to monitor the state-building process, the Syrian Future Movement recommends the following:
- Expediting the enactment of legislation that protects whistleblowers and strengthens the independence of oversight bodies to ensure that no employee is subjected to retaliation or marginalization for disclosing violations, in line with international best practices.
- Launching a public digital platform for government contracts and making it mandatory for all public entities. The data should be open and verifiable by citizens and oversight bodies, following the Saudi experience, which is a key component of the memorandum.
- Announcing a clear implementation plan for recovering the funds, with specific timelines and measurable performance indicators, and involving independent experts in the monitoring process.
- Enhancing transparency in the work of the Central Financial Control Authority by publishing periodic public reports on its achievements and case s, and allowing the public to monitor its performance. The head of the Authority also indicated plans to issue public oversight reports.
The Syrian Future Movement commends the Central Financial Control Authority for uncovering this case and sees it as a model of serious institutional work in exposing the corruption of the former regime and holding those involved accountable.
It reiterates that combating corruption is an existential battle for the new Syria and requires genuine political will, deterrent legislation, and independent and effective oversight institutions.
The Syrian Future Movement affirms that recovering the looted funds and holding the corrupt accountable is a fundamental condition for building trust between the state and the citizen, and for the success of any path to economic and political reform.
For its part, the Syrian Future Movement will remain supportive of everything that promotes integrity and transparency, critical of everything that hinders the achievement of justice and accountability, and monitoring everything that is accomplished on the ground, striving for a new Syria where the rule of law prevails and state institutions are managed efficiently and effectively.
