In 2012, as the CEO of one of Syria’s largest banks, I faced a daunting challenge: a bank run amidst a civil war and economic sanctions. To survive, I had to act quickly and decisively, employing strategies that would calm depositors, protect our liquidity, and communicate effectively with the media and regulators.

The first step was to ensure that all members of the bank’s leadership team were on the same page. We communicated constantly, holding daily meetings and using satellite communications to keep all branch managers informed of the situation. We emphasized the importance of projecting calm and confidence to both staff and depositors, recognizing that panic at the top would only fuel the crisis.

Next, we focused on maximizing our liquidity. We made sure that our branches were well stocked with bank notes in both local and foreign currencies, providing a tangible symbol of our financial strength. We also increased our insurance limits, further reassuring depositors that their money was safe.

Clear and proactive communication with the media was also crucial. We knew that the public needed to understand the situation in simple, jargon-free terms. We regularly updated the media on the bank’s status, while also communicating with regulators to ensure compliance with relevant laws and regulations.

Perhaps most important was understanding our ultimate customer: the depositor. We knew that we needed to prioritize their needs above all else, and so we went above and beyond to meet their demands. We offered to break time deposits and transfer funds globally, going the extra mile to ensure that our depositors felt that we had their best interests at heart.

Ultimately, these strategies proved successful. By projecting confidence, maximizing liquidity, communicating clearly, and prioritizing our depositors’ needs, we were able to weather the crisis. This experience taught me the importance of being prepared for any crisis that may arise, and of always putting the needs of our customers first.