Hashim Al Shawa, the Chairman and General Manager of Bank of Palestine Group, announces the upgrading of the general framework of the group in line with the bank’s growth rate and as a continuation of the internal and external development and expansion strategy
17 | 12 | 2017
Appointing Rushdi Al Ghalayini as the General Director of Bank of Palestine, and Hani Nasser as the General Manager of the Arab Islamic Bank
Ramallah – Hashim Al Shawa, the Chairman and General Manager of Bank of Palestine Group, announced the upgrading of the general framework of the Group in line with the development and expansion undergone by the bank during the last few years, as well as its future vision to keep up with state-of-the-art banking in terms of expansion on both national and international levels, and promoting and diversifying its various financial investments. During the last ten years, the Group’s assets increased from $848 million to reach $4.7 billion in 2017; deposits increased from $679 million to $3.6 billion; while the facilitations portfolio increased from $243 million to $2.4 billion; and the Group’s market share reached one third of the banking sector in 2017 to become the largest banking institution in Palestine and the second largest private sector employer in Palestine, whereby the number of its male and female employees and workers reached 2,200.
Within the framework of external expansion, Bank of Palestine opened its first representative office outside Palestine in 2015 at the Dubai International Financial Center in the United Arab Emirates. This year, the bank opened its second international representative office in the city of Santiago, the capital of Chile, marking the opening of the very first Arab bank to open in Latin America. As a continuation of the Group’s approach in keeping up with the best and latest global developments in technology and providing the best banking products and services to its clients, the bank developed and automated its various banking programs and products to join its affiliated companies, which include PalPay, the first Palestinian company specialized in the development of electronic payment systems, and Al Wasata Securities company, the investment arm of Bank of Palestine.
Concerning subsidiary companies, Al Shawa added that the capital of the Arab Islamic bank was raised to reach $75 million, in response to the huge demand for Islamic banking. The bank also plans to open a total of eight additional branches in the next two years. Within this framework, Al Shawa spoke about the developments taking place in the Group’s organizational structure to match the latest expansions, growth and investments, as well as the strategic vision of the Monetary Authority to promote the good governance of the Palestinian banking system.
Upgrades included the appointment of Rushdi Ghalayini as the General Director of Bank of Palestine, and Hani Nasser as General Director of the Arab Islamic Bank. Al Ghalyini has an expansive experience in banking that exceeds 30 years. He held several managerial positions at Bank of Palestine, the latest being Deputy General Director. He has a Bachelor of Arts from the American University of Cairo and is a member in several boards among them the Investment Bank in the Hashemite Kingdom of Jordan, the Arab Islamic Bank, the Association of Banks in Palestine and the Palestinian Banking Institute. Hani Nasser has an experience in the banking sector that exceeds 23 years, and he held several managerial positions at Bank of Palestine, the latest being Assistant General Director/ Director of Business Administration in the West Bank. He has a Masters’ degree in public administration and law from Maria Curie-Skłodowska University in Poland.
Al Shawa added that Bank of Palestine is considered one of the largest Palestinian banks with a market share that reached 32% of the banking sector. The bank was classified by the Palestine Monetary Authority, promoting the good governance, risk management and operations of the Bank of Palestine Group. The latter’s main performance indicators increased tremendously to become the largest banking network that includes 70 branches and offices, among them a new branch in Dahyat Al Bareed in the city of Jerusalem, marking the highlight of events during 2017 considering its importance to the bank. Furthermore, over 300 ATM machines were set up, including a huge network that exceeds 6,000 points of sale, taking into consideration that Bank of Palestine is the sole agent to issue and accept Visa and Master cards, in addition to debit and cash cards. It is also worth mentioning that the bank will obtain the Union Pay agency in China.
On this occasion, Hashim Al Shawa, the Chairman of Bank of Palestine Group, extends his congratulations to shareholders, employees and partners for these accomplishments that will reflect positively on the upcoming phases of growth and prosperity. Al Shawa also extends his gratitude to the Palestine Monetary Authority, which strives to maintain the stability and robustness of the banking system.