Mr. Masri holds a BA and MA in economics from the American University of Beirut. He has worked as an economist in Lebanon, the UK, Jordan, Saudi Arabia and Palestine. In 1996, he was elected to the Palestinian Legislative Council (Parliament) and later served as minister of national economy until 2005. As a minister, he chaired the Palestinian Investment Promotion Agency (PIPA), Palestine Standards Institution (PSI) and Palestinian Industrial Estates and Free Zone Authority (PIEFZA). He was the Chairman of Palestine Capital Markets Authority from 2006 till 2014. Presently, he is the chairman of the Associations of Banks in Palestine and the Palestine Stock Exchange, and a board member of the Palestine Investment Fund. Also he is a member of the Board of Trustees at Birzeit University, and Palestine Economic Policy Research Institute (MAS).
Mr. Talal Nasereddin holds a master’s degree in industrial chemistry from the American University of Beirut. He is the chairman and chief executive offer of Birzeit Pharmaceutical Company, chairman of the Board of Directors of The National Bank, chairman of Abraj Investment & Development, chairman of Petropal for Mineral Oils, and chairman of Lotus Financial Investment Company. He is also a board member of PalTel Group and the Palestinian Electricity Company, in addition to being a member of the Board of Trustees of St. Joseph Hospital in Jerusalem.
Until 9/2020 Mr. Hassan has a master’s degree in Financial Science and Accounting from Bradford University in the United Kingdom, a Diploma in Financial Markets from the Arab Academy for Management Banking and Financial Science in Jordan and a Baccalaureate Degree in Business Management from Birzeit University. Mr. Ahmad Al-Hajj Hassan occupied the position of General Manager at The National Bank since late 2010 and up to 30 September 2020, in addition to a being a member in MEPS Palestine’s Board of Directors and previous being employed as a General Manager in Securities General Management at the Capital Markets Authority. Mr. Hassan has also previously assumed several positions with the Palestinian Monetary Authority and is currently a member in the Arab American University’s Board of Trustees.
Omar M. Masri is the vice chairman of The National Bank (TNB) and a well-known businessman with 27 years of experience in the banking as well as oil & gas sectors. Since 2006, he has been the group managing director of the Edgo group, a regional company with operations in the fields of oil & gas, power, water and infrastructure. Omar established and managed Atlas Investment Group (“Atlas”) in 1996, a regional investment banking firm. In 2004, the Arab Bank acquired Atlas and established it as the bank’s Investment Banking arm, known today as AB Invest. He was appointed as Arab Bank’s first global head of investment Banking and represented Arab Bank on the boards of several affiliate and sister entities, including the Arab National Bank in Saudi Arabia. He was the first individual in Jordan to be granted the Certified Financial Consultant, Broker and Investment Manager License by the Jordan Securities Commission. In 2004, Omar was invited to be a member of the Dubai International Financial Exchange (DIFC) Practitioner Committee to assist in the establishment of the DIFC. In 2002, Omar founded the Chartered Financial Analyst (CFA) Institute’s Jordan chapter and became its first chairman. Prior to establishing Atlas, he was a fund manager at Foreign & Colonial Emerging Markets in London, UK, where he structured and managed the first regional Middle East investment fund in the world, which was listed on the New York Stock Exchange. Omar is a graduate in Finance from George Washington University in Washington, DC. In 1990, he completed a two-year, intensive wholesale credit-training program at the Philadelphia National Bank/Wharton Business School in Philadelphia and subsequently managed the bank’s correspondent banking relationships in Thailand and Japan. Omar has been a member of the Young Presidents’ Organization (YPO) since 2001 and was selected as a Young Global Leader by the World Economic Forum.
Dr. Abu Khaizaran holds an MD from Alexandria University and later specialized in Gynecology at the British Royal College. He is a major shareholder and the general manager of Razan Medical Center; chairman of the Arab Istishari Hospital as well as having been the chairman of the Specialized Arab Hospital since 1999. He is a board member of Birzeit Pharmaceutical Company.
Mr. Al Daghma holds a BA in literature from Beirut Arab University. He has held many leading positions with companies, including Head of Tenders and Procurement in the Abu Dhabi Government for 20 years. He also served as a senior staff member with Sheikh Zayed. He has various investments and participates actively in local, regional and international forums and conferences, in addition to owning Dadco Export-Import in Germany.
Mr. Al-Natsheh holds a BA degree from the Lebanese University, pre-MA courses from the University of Cairo, and pre-PhD studies from Moscow University. He currently chairs and is a former president of the Palestinian Anti-Corruption Commission as well of the Foundation of Orphans Funds Development & Administration. Previously, he was the Palestinian ambassador to Saudi Arabia, minister of labor, minister of agriculture and speaker of the Palestinian Legislative Council.
Dr. Al-Helo holds a PhD in Law from Abed Almalek Alsaady University, Morocco. He served as a legal advisor for the State Audit and Administrative Control Bureau from 1996-1999 and assistant undersecretary at the Palestine Pension Authority from 1999-2013. He also serves as board member and deputy chairman at the Foundation of Orphans Funds Development & Administration and is a member of many local institutions’ boards and Head of the Palestine Pension Authority with the rank of minister.
Dr. Al-Hajjeh holds a BA in business administration and economics from Birzeit University and MA and PhD degrees in business administration. He is currently a faculty member at the School of Business and Economics at Birzeit University. He was an adjunct faculty member at New York University and Fairleigh Dickinson University in the United States. Dr. Al-Hajjeh served as general manager for the Commercial Bank of Palestine and Palestine Investment Bank, regional manager for the Housing Bank for Trade and Finance, VP of Arab Bank New York, and head of credit and administration at the Foreign Banking Unit, Arab Bank Bahrain. He has served as a consultant and board member in many organizations and as an advisor to the Palestine Monetary Authority during its establishment. Dr. Al-Hajjeh is an accredited arbitrator in banking and finance.
Mr. Al Abwah holds a BA degree in accounting from Birzeit University, and an MA degree in accountancy from George Washington University, Washington DC. Currently, he is the chief audit executive at the Palestine Investment Fund, in charge of the internal audit and risk management functions. He has over 20 years of experience in auditing and management consultancy services with leading international accounting firms, both locally and internationally. Mr. Al Abwah is a US Certified Public Accountant "CPA", a Canadian Chartered Accountant "CA", a Certified Internal Auditor "CIA", and a Certified Information System Auditor "CISA".
Prof. Abu Zuhri holds a PhD degree from Assiut University, Egypt in Analytical Chemistry. He served as a minister of education and a minister of transportation. He was president of Al-Aqsa University, Gaza from 2003 to 2009. Prof. Abu Zuhri has held different academic positions at An- Najah University and the United Arab Emirates University. In 2015, he was appointed as a President for the Arab American University, Jenin. Palestine.
| Member Name | Name of the entity represented by the member | Number of board sessions | Number of sessions attended | Attendance ratio |
|---|---|---|---|---|
| Mr. Maher Al Masri | Islamic National Investment Company | 6 | 6 | 100 % |
|
Mr. Talal Nasereddin |
Islamic National Investment Company | 6 | 6 | 100 % |
| Mr. Ahmad Al-Haj Hasan | Islamic National Investment Company | 6 | 3 | 50% |
| Mr. Salah Al-Daghma | Islamic National Investment Company | 6 | 6 | 100 % |
| Mr. Omar M Masri | Islamic National Investment Company | 6 | 6 | 100 % |
| Dr. Salem Abu Khaizaran | Islamic National Investment Company | 6 | 6 | 100 % |
| Mr. Rafiq AL-Natsheh | Foundation of Orphans Funds Development & Administration | 6 | 5 | 83.33 % |
| Dr. Majed Al-Helo | Small shareholders | 6 | 6 | 100 % |
| Prof. Dr. Ali Abu Zuhri | Independent member | 6 | 5 | 83.33% |
| Mr. Abdel Hamid Al Abwah | Independent member | 6 | 6 | 100 % |
| Dr. Anis Ahmad Al-Hajjeh | Independent member | 6 | 6 | 100 % |
| Name | Number of Shares | 2020 | 2019 | Ownership percentage |
|---|---|---|---|---|
| National Islamic Investment Company | 6 | 36,289,853 | 34,928,984 | 45.36% |
| Foundation of Orphans Funds Development & Administration | 1 | 4,157,000 | 4,000,000 | 5.20% |
| Dr. Majed Al-Helo, representatives of small shareholders | 1 | 12,796 | 12,317 | %0.016 |
| Dr. Anis Al-Hajjeh, independent member | 1 | 18,688 | 17,988 | %0.023 |
| Prof. Dr. Ali Abu Zuhri, independent member | 1 | 15,996 | 15,397 | %0.020 |
| Mr. Abdel Hamid Al Abwah, independent member | 1 | 10,810 | 10,405 | %0.014 |
| Name | No. of shares | Shareholding rate | ||
|---|---|---|---|---|
| 2020 | 2019 | 2020 | 2019 | |
| National Islamic Investment Company | 36,289,853 | 34,928,984 | 45.36% | 45.36% |
| Palestinian Pension Agency | 8,241,550 | 7,932,492 | 10.30% | 10.30% |
| Mr. Salah Al-Daghma | 4,648,449 | 4,474,133 | 5.81% | 5.81% |
| Foundation of Orphans Funds Development & Administration | 4,157,000 | 4,000,000 | 5.19% | 5.20% |
First: Summary of Board Members' Allowances and Expenses (in USD)
| Name | Position | Allowance to attend sessions and daily sessions in 2020 |
|---|---|---|
| Islamic National Investment Company represented by: | ||
| Mr. Maher Al Masri | Chairman | 6,600 |
| Mr. Talal Naserddin | Deputy Chairman | 7,000 |
| Ahmad Alhaj-Hassan | Board Secretary | 3,200 |
| Mr. Salah Al-Daghma | Member | 15,400 |
| Mr. Omar M Masri | Member | 7,400 |
| Dr. Salem Abu Khaizaran | Member | 7,800 |
| Foundation of Orphans Funds Development & Administration represented by: | ||
| Mr. Rafeeq Al-Natsheh | Member | 5,200 |
| Representatives of small shareholders | ||
| Dr. Majed Al-Helo | Member | 7,200 |
| Independent members | ||
| Dr. Anis Ahmad Al-Hajjeh | Independent member | 7,400 |
| Prof. Dr. Ali Abu Zuhri | Independent member | 5,200 |
| Mr. Abdel Hamid Al Abwah | Independent member | 7,600 |
| Others | 6,047 | |
| Total | 86,047 | |
Second: Summary of Board of Directors Remuneration for 2020 (in USD)
| Name | Position | 2020 | 2019 |
|---|---|---|---|
| National Islamic Investment Company represented by: | |||
| Mr. Maher Al Masri | Chairman | 47,456 | 55,831 |
| Mr. Talal Nasereddin | Deputy Chairman | 28,333 | 27,777 |
| Ahmad Hajhassan | Board Secretary | 14,166 | 33,333 |
| Mr. Salah Al-Daghma | Member | 28,333 | 33,333 |
| Mr. Omar M Masri | Member | 28,333 | 33,333 |
| Dr. Salem Abu Khaizaran | Member | 28,333 | 33,333 |
| Foundation of Orphans Funds Development & Administrationrepresented by: | |||
| Mr. Rafeeq Al-Natsheh | Member | 23,611 | 27,777 |
| Representatives of small shareholders | |||
| Dr. Majed Al-Helo | Member | 28,333 | 33,333 |
| Independent members | |||
| Dr. Anis Ahmad Al-Hajjeh | Independent member | 28,333 | 33,333 |
| Prof. Dr. Ali Abu Zuhri | Independent member | 23,611 | 33,333 |
| Mr. Abdel Hamid Al Abwah | Independent member | 28,333 | 33,333 |
| Total | 307,175 | 378,049 | |
Third: Summary of executive management salaries and remunerations (in USD)
The Bank's general manager‘s expenses including salaries, savings and end of service benefits during the year 2020 were as follows
| Name | Position | 2020 | 2019 |
|---|---|---|---|
| Imad Alsadi | General Manager | 241,407 | 228,345 |
| Bayan Qasem | General Manager until 30/6/2020 | 183,332 | 322,347 |
Al-Sadi holds a Master’s Degree in Financial and Banking Management from M.S. University in India, and a Bachelor’s Degree in Accounting. Since 2018, Al-Sadi is a PhD candidate at IZU University in Turkey researching Islamic Economics. He joined the banking sector in 1993, and held several senior positions at Palestine Islamic Bank; the first of which was the position of Regional Director of Branches, followed by the position of Assistant General Manager for Distribution Network. Starting early 2019, Al-Sadi assumed the role of Deputy General Manager. He is also a member of the Board of Directors for Takaful Insurance Company as a representative of PIB. During 2019, AL-Sadi was selected as a financial expert and a member of the Board of Directors of the Agricultural Credit Fund following a decree by the Palestinian Council of Ministers, and based on the recommendation of the Minister of Agriculture. During the same year, Al-Iqtisadi magazine selected him as one of the most influential figures in the Palestinian economy. In 2020, Al-Sadi became a member of the Sustainability Working Group of the General Council for Islamic Banks and Financial Institutions (CIBAFI), alongside a group of experts in Islamic economics and Islamic banking. Al-Sadi was previously a lecturer at the Arab American University, and as a banking expert and trainer at the Palestine Banking Institute.
Mr. Abdel-Halim holds a master’s degree in Business Administration from Al-Najjah National University and a bachelor’s degree in Accounting and Economics from the University of Jordan. He currently holds the position of assistant general manager of banking operations, with more than 27 years of experience in banking.
Mr. Rami holds a bachelor's degree in Accounting from the Arab American University, and is a member of several local, Arab and international associations of chartered accountants. He has more than 15 years of experience in the field of accounting, auditing and consulting, financial institutions, asset management, insurance, and communications. Prior to joining the Bank, he served as a Director in Ernst & Young, and he is currently assistant general Manager of Finance and Administration
Mr.Shqair Holds a Master’s Degree in Business Administration (MBA) from Najjah National University, and a Bachelor’s Degree in Finance from Birzeit University. He joined the Islamic banking sector in 2000 and worked as PIB’s Nablus Bank Manager until 2013. He was the Central Operation’s Department Manager until 2020, and then he was appointed as Director of Middle District branches. He currently holds the position of Assistant General Manager for branches. Shqair has worked as a lecturer at Al-Quds Open University for 10 years. Additionally, he is a licensed arbitrator in financial and banking disputes; holding an arbitration license issued by the Ministry of Labor.
Mr. Masri holds a master’s degree in business administration from Birzeit University and a bachelor’s degree in computer engineering from An-Najah National University. He currently works as the assistant general manager for planning and development at Palestine Islamic Bank, with more than 15 years of experience of in the technical and management field, product and software development, digitization, project management, and process reengineering.
General Manager Until 20/6/2020
Mrs. Abu Eita holds a master’s degree in business administration and has worked for both the Bank of Palestine and the Arab Bank, where she held senior positions. She joined the Palestine Islamic Bank in 2010 as Public Relations, Planning and Development Department Manager, and then became the Branch Manager of Al Montzah branch. She has also worked in a number of local institutions as a consultant for local business development. In addition to her work in the telecommunications sector in Jawwal. Mrs. Abu Eita has participated in many international meetings and conferences and has received many excellence awards during her career.
Mr. Al-Fleet holds a bachelor’s degree in accounting from the Islamic University, Gaza and began his work in the banking sector at the Bank of Palestine in 1999. He joined Palestine Islamic Bank in 2007 and has managed a number of branches in the Gaza Strip before becoming director of the Gaza District at the beginning of 2019. Mr. Al-Fleet holds a number of specialized banking certificates, including an IFQ certified Islamic finance officer, a Certified Lender Business Banker certificate CLBB, a CCP certificate and he is a member of the Arab Academy for Banking and Financial Sciences.
He holds a bachelor's degree in the field of computer science and served as a financial and administrative manager in a number of private companies before joining the Cairo Amman Bank Islamic transactions branch in 1998. In 2009, he joined Palestine Islamic Bank, as the Branch Manager of the Bethlehem branch and then the Hebron branch. Mr. Nizar holds a number of specialized international certificates, including a certified Islamic finance officer certificate and CLBB certificate. He is a volunteer lecturer in the field of skills and human capabilities.
Director of the Central District Until 30/4/2020
Director of the Central District Until 7/12/2020
Engineering Management MSc Bachelor's degree in Computer Engineering Date of joining the bank: 2/14/2016
Master of Business Administration Bachelor's degree in Financial and Banking sciences Date of joining the bank: 9/10/2016
Master of Economics Bachelor's degree in Accounting Date of joining the bank: 10/27/2015
Master of Islamic Studies Bachelor's degree in Law Date of joining the bank: 1/3/2009
Master of Business Administration Bachelor's degree in accounting Date of joining the bank: 2/01/2020
Master of Business Administration Bachelor's degree in Accounting Date of joining the bank: 11/12/2017
Master of Business Administration and Information Systems Bachelor's degree in Business Administration and Information Systems Date of joining the bank: 1/9/2007
Bachelor's degree in Accounting Date of joining the bank: 9/29/2019
Bachelor's degree in Accounting Date of joining the bank: 01/17/2010
Master of Business Administration Bachelor's degree in Business Administration Date of joining the bank: 01/10/2010
Master of Computer Engineering Bachelor's degree in Electrical Engineering Date of joining the bank: 3/4/2016
Bachelor's degree in Mechanical Engineering Date of joining the bank:24/11/2020
Master of Executive business administration Bachelor's degree in Accounting Date of joining the bank: 29/3/2020
Bachelor's degree in Banking and Finance Date of joining the bank:30/12/2020
Master of Business Administration Bachelor's degree in Financial and Banking Sciences Date of joining the bank: 3/4/2016
Master of Sustainable Development / Institution of Building and Human Development Bachelor's degree in Management and Entrepreneurship / Accounting Date of joining the bank: 1/2/2006
Bachelor's degree in Law Date of joining the bank: 1/5/2013
Treasury and Investment Department Manager Until 30/6/2020
As human capital is the most important capital of any institution seeking excellence and leadership in its field, Palestine Islamic Bank prioritizes the development of its staff. The bank focuses on attracting, retaining, and training staff and helping them to get qualifications in various fields. The Bank believes that attracting young talent forms the basis of growth and development in any successful institution.
The Bank aims to provide a working environment that allows its employees to express their creativity to help the Bank to achieve its main goals and fulfill its strategic values and plans for development, expansion and penetration. The Bank seeks to give its employees the opportunity to develop and create a balance between furthering their careers and the demands of their role. Opportunities for career development and training are identified as part of all employees’ annual performance evaluation.
The bank gives equal opportunities to female and male employees. During 2020, the number of female employees at the Bank was 189 out of 691 employees, many of them working in leading positions as decision makers, while others oversee some of the largest and most important programs and projects in the Bank.
In order to develop the skills of employees to increase performance, the Bank provides staff with the necessary internal or external training in their field of work in dozens of topics including Islamic banking and financial transactions, management, anti-fraud and money laundering.