In January 1943, al-Shihabi was appointed as the head of the Syrian Ministry of Finance by Prime Minister Jamil al-Ulshi, though he stepped down that March due to what he perceived as al-Ulshi's pro-French views. When al-Ayyubi took the position of Prime Minister for a second term, al-Shihabi retook his position in the Ministry of Finance.
In January 1943, al-Shihabi was appointed head of the Syrian Ministry of Finance by Jamil al-Ulshi, but he resigned in March due to disagreements over al-Ulshi's pro-French policies. When al-Ayyubi took office again, al-Shihabi resumed his role at the Ministry of Finance.