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This study aims to assess the role of the private banks in the economic development in Syria. The annual data of the financial statements of private banks covers of a period of 8 years from 2012-2019 was uses for this research study. A correlation and regression analysis were conducted to answer the research question of whether the private banks operating in the Syrian Arab Republic are contributing efficiently to the economic development and growth of gross domestic product in Syria. On the basis of overall analysis, it was concluded that the provided credit from the private bank is strongly correlated to the economic growth.