Bank of Palestine was granted the award of best bank in Palestine for Foreign Exchange for the year 2020 by the Global Finance magazine, which is specialized in financial issues and located in the city of New York in the United States. The bank was granted this award for the second time in a row, based on an evaluation conducted by specialized editors of the magazine on banks operating in Palestine, and on data provided by analysts, consultants and executive managers working in the banking sector, in addition to an exclusive poll conducted on readers from institutions, with an aim to increase the accuracy and credibility of results. The classification covered 113 countries from all continents around the world.

Global Finance stressed that the selection of winning banks and financial institutions was based on the exceptional results achieved under the difficult circumstances confronted by global financial markets and the different circumstances confronted by 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.

Ghalyini added that the bank allocated a trained and highly professional team of expertise to serve customers and merchants, and extended the working hours of its foreign exchange department until eight in the evening, including on Fridays, to execute foreign currency exchange deals for customers and merchants.  The bank also provides other services that include forward dealing, specific order services for currency trading to facilitate customer transactions and accelerate internal and external trade, stemming from its plan to achieve digital solutions that facilitate customers’ electronic transactions (currency-trading services are also available electronically through the Banki mobile application, internet banking and ATMs).

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.