For the first time in the history of Palestinian financial institutions, the New York-based Global Finance magazine granted Bank of Palestine the award for best financial institution in Palestine in the field of Foreign Exchange for the year 2019
23 | 1 | 2019
The New York-based Global Finance Magazine, which specializes in financial issues, named Bank of Palestine as the best financial institution in the field of Foreign Exchange in Palestine. The award was received by the bank for the very first time, based on an evaluation process of banks operating in Palestine, conducted by editors of the said magazine, as well as data provided by local analysts, consultants and executive directors in the financial sector, and an exclusive poll for magazine readers, with an aim to increase the accuracy and reliability of results.
The Global Finance magazine named its World’s Best Foreign Exchange Providers in 113 countries around the world. The magazine indicated that criteria for choosing the winning Foreign Exchange Providers in based on the exceptional achievements of these institutions in the face of the difficult circumstances under which international financial market live and the different circumstances of each market.
Mr. Hashim Al Shawa, the Chairman of Bank of Palestine Group, expressed his enthusiasm about receiving this award for the first time, pointing out that this new achievement reflects the pioneering role played by Bank of Palestine in conducting its operational and technical transactions at the local and regional levels. It is also testimony to the success of continuous efforts aimed to achieve the highest standards of customer service and professional efficiency delivered by a qualified staff, and the employment of the latest technologies and systems to fulfill the needs and expectations of customers.
Al Shawa congratulated Bank of Palestine on this new achievement, pointing out that “the Global Finance Award for best financial institution in the field of Foreign Exchange crowns other successes achieved by the bank during the past few years, despite the difficult circumstances.” “The bank proved its great ability and continuous persistence to conduct exceptional work and provide service in the best possible way,” he added.
Al Shawa also stated that exceptional work in Palestine will continue through banking and non-banking institutions, and the acknowledgement of our achievements, developments and exceptional performance by world-renowned institutions is the ideal tool to give us great hope for a better future. “It is the product of many years of Palestinian creativity to access the world,” he added.
In his turn, Mr. Rushdi Ghalayini, the General Director of Bank of Palestine, stated that the bank managed to pass all the tests and audit process conducted by Global Finance magazine, and winning the award was well deserved. He pointed out that the bank provides a selection of exceptional banking services, including the provision of foreign currency, and foreign currency exchange and services to customers, merchants and importers, through a banking network consisting of 73 branches and offices spread across the Palestinian governorates. Ghalayini stressed the bank’s commitment to practice its duties in accordance with global laws for banking operations and compliance with the standards of anti-money laundering and counter-terrorism financing, and the instructions set forth by the Palestine Monetary Authority to maintain the stability of the Palestinian banking sector, all of which contributed to naming the bank as the best bank in Palestine.
It is important to mention that Global Finance magazine was established in New York in 1987. It specializes in the field of banking operation, financial institutions and banking services, and its duty is to assist heads of companies, bankers and investors to draw the path for world trade and finance. The magazine is distributed in 163 countries, and every year, it conducts a selection process for the world’s best financial institutions. The awards granted by Global Finance have become a world-renowned and accredited standard for excellence.