Brothers and sisters distinguished shareholders,
May the peace, mercy and blessings of God be upon you
In 2022, PIB continued to implement its development programs to ensure digital transformation.
These programs will improve the quality of banking services and include new Islamic products in line with the latest developments in global Islamic banking
and the needs of the local market. During this year, PIB focused on increasing investments in digital transformation and developing its electronic banking services through advanced systems and state-of-the-art technology, such as advanced automated teller machines, which provide many unique services to customers. These efforts are part of PIB’s plans and policies of the Board of Directors to maintain a reasonable and steady pace of growth by improving the quality of services and ensuring the interests of investors in full compliance with Islamic Sharia and in line with best practices in risk management and investment. This policy was reflected in the continuous development of the services and products offered by the Bank to the public, as many new Islamic products were launched. In addition, new credit cards were launched, namely the World Mastercard and Platinum Mastercard, as the first of their kind in Palestine. Work is underway to issue new cards to promote e-payment.
PIB seeks to offer the best services to its customers, by ensuring modern and secure banking solutions in line with Islamic Sharia. It launched a number of pioneering digital services, which earned numerous awards from regional associations and international publications. In addition, through the Sharia Supervisory Board, PIB holds workshops and educational lectures in universities and institutes to introduce people to the principles and foundations of Islamic banking.
In terms of social responsibility, the Bank continued to play its pioneering role, and implemented more than 140 projects that mainly targeted the health and education sectors, as well as vulnerable groups. It also carried out community activities with its employees across the country.
In preparation for the coming years, PIB held a strategic retreat this year with the participation of its managers and Board members. The next four-year strategy was drawn up and plans for its implementation were discussed to ensure continuous and steady growth. This will allow PIB to become one of the Palestinian economic institutions actively contributing to the growth of the Palestinian economy.
These concerted efforts had a positive impact on all financial indicators at PIB. At the financial level, results showed growth in the 2022 financial indicators, recording the highest profits since the bank’s establishment, with net profit after tax amounting to $15.34 million, up from $13.68 million in the previous year. This is a 12.14% growth rate. Total equity also increased to $148 million in 2022 compared to $138 million in 2021, with a growth rate of 7.08%, noting that the bank’s paid-up capital was increased in 2022 to $90 million, up from $85 million in 2021, and the share profit rate increased from 0.15 in 2021 to 0.17 in 2022. Moreover, return on assets increased from 0.86% in 2021 to 0.97% in 2022, while the rate of return on equity increased from 10.45% in 2021 to 10.69% in 2022. Net direct credit financing increased to 898 million US dollars, up from 890 million in 2021, with a growth rate of 0.88%.
PIB continued to achieve the objectives set over the past years, indicating the confidence of investors and bank customers in the soundness of our strategic planning. This would not have been achieved without the executive management which is highly efficient and employs the best advanced technologies to serve customers and mitigate risks, under continuous guidance, recommendations and decisions by the Sharia Supervisory Board.
We shall continue on the path of success and progress, God willing, serving the Palestinian national economy.
It is by the grace of Allah that we succeed.
May the peace, mercy and blessings of Allah be upon you
Maher Masri
Chairman of the Board of Directors
Palestine Islamic Bank Public shareholding company was established in 1995 and began its banking activity in 1997. Its authorized capital is 100 million shares, with a nominal value of USD 1.00 per share. Since its establishment, PIB’s paid-in capital was increased several times, most recently in 2022, reaching USD 90 million from USD 85 million in 2021.
PIB engages in Sharia-compliant banking, financial, commercial, and investment activities. Through more than 43 branches and offices, and over 90 ATMs throughout the country, the Bank boasts the biggest Islamic banking network in Palestine as part of its identity. This is also consistent with PIB’s vision to become the leading Palestinian bank offering Islamic banking activities and services to meet customers’ needs and requirements.
The Bank constantly strives to address the financial needs of all segments of the community and uses its best capacities to realize its mission to achieve excellence in providing modern and secure Sharia-compliant banking and investment solutions. Moreover, PIB focuses on establishing sustainable partnerships with stakeholders and the community, and is keen on attracting and developing highly qualified human resources to offer the best Islamic banking services and introduce banking products that meet customers’ ambitions and provide them with a unique banking experience. As a result of its efforts, the Bank was granted the “2022 Best Bank Providing Sharia-compliant Services and Products in Palestine” Award by the Arab Bankers Association.
PIB is guided by a clear and organized digital transformation plan that led to launching many digital services and products as well as e-payment solutions, thanks to which PIB obtained the “2022 Best Islamic Banking Credit Card in Palestine” Award by International Finance Magazine.
The Bank believes in its role in contributing to sustainable development, namely through implementing annual projects with a positive and sustainable impact, especially in the health and education sectors. PIB’s effort also included environment protection, through the installation of a solar energy system in 15 branches and offices, thus helping in reducing harmful gas emissions. In line with such efforts, the Bank became the first Palestinian Islamic bank to join the UN Global Compact, a UN-led initiative aimed at encouraging companies worldwide to adopt sustainable and socially responsible policies.
To be the leading Palestinian bank in Islamic finance and investment activities and services with a modern and developed perspective.
Excellence in providing modern and safe banking and investment solutions in accordance with the provisions of Islamic Shari’a, and to work towards sustainable partnerships with stakeholders and the community.
Leading in the Palestinian banking sector, through:
Palestine Islamic Bank has been voted:
The Bank is considered the widest Islamic banking network in Palestine, whereas it has worked on expanding this network since its incorporation that being in conformity with the strategy of financial inclusion which the Palestinian Monetary Authority launched, believing in citizens’ right to enjoy banking services around the country.
43 branches and offices at your service
Name | District | Address |
---|---|---|
Jenin Branch | Jenin | Jenin, Haifa ST |
Qabatiya Office | Jenin | Jenin, Qabatiya, Main ST |
Silat ad-Dhahr Office | Jenin | Jenin, Silat Ad-Dhahr, Main ST |
Tubas Branch | Tubas | Tubas, Main ST |
Tulkarem Branch | Tulkarm | Tulkarem, Nablus ST, Dr. Riyad Shibli Building |
Attil Office | Tulkarm | Tulkarem, Attil Main ST, Mwafaq Amer's Building |
Nablus Branch | Nablus | Nablus, Sufian ST |
Al-Muntazah Branch | Nablus | Nablus, Shuwaitra ST, Nablus Mall |
Al-Hisba Office | Nablus | Nablus, Amman ST, PIB Junction |
Rafidia Office | Nablus | Nablus, Rafidia Main ST |
Huwwara Office | Nablus | Nablus, Hawara, Main ST |
Qalqilya Branch | Qalqilya | Qalqilya, Yasser Arafat ST |
Bedia Branch | Salfit | Salfit, Badia , Main ST |
Salfit Office | Salfit | Salfit, Shuhda'a 36 ST |
Turmusaya Office | Ramallah | Ramallah & Al-Bireh, Turmusaya, Main ST |
Ein Yabroud Office | Ramallah | Ramallah & Al-Bireh , Ein Yabroud, Main ST |
Al-Irsal Office | Ramallah | Ramallah & Al-Bireh, Al-Irsal, Main ST |
Al - Bireh Branch | Ramallah | Ramallah & Al-Bireh,Al-Quds ST, Near the Red Crescent Hospital |
Ramallah Branch | Ramallah | Ramallah & Al-Bireh, Palestine ST |
Al-Masyoun Branch | Ramallah | Ramallah & Al-Bireh, Al-Masyoun, opposite to Nations Gardern |
Betunia Office | Ramallah | Ramallah & Al-Bireh, Betunia, Main ST |
Jericho Branch | Jericho | Jericho, Hisham's Palace ST |
Al-Eizariya Branch | Jerusalem | Jerusalem, Al-Eizariya, Main ST |
Dar Salah Office | Bethlehem | Bethlehem, Dar Salah, Main ST |
Bethlehem Branch | Bethlehem | Bethlehem, Alquds ST |
Halhul Office | Hebron | Hebron, Halhul, Zabod ST |
Al-Shuyoukh Office | Hebron | Hebron, Al-Shuyoukh, Main Entrance |
Ras Al-Joura Branch | Hebron | Hebron, Traffic Department ST |
Wadi Al-Tuffah Branch | Hebron | Hebron, Al-Adel ST |
Ad-Dhahiriya Office | Hebron | Hebron, Ad-Dhahiriya, Main ST |
As Samu' Office | Hebron | Hebron, As-Samu', Main ST |
Ethna Branch | Hebron | Hebron, Ethna, Municipality ST |
Dura Branch | Hebron | Hebron, Dura, Banks ST |
Jabalia Branch | Jabalia | Gaza, Jabalia, Saleh Dardouna ST |
Beit Lahia Office | Beit Lahia | Gaza, Beit Lahia, Main ST |
Gaza Branch | Gaza | Gaza, Omar Al Mukhtar ST |
Al-Shuja'iyya Office | Gaza | Gaza, Al-Shuja'iyya, Salah Al-Din ST |
Al-Nasser Branch | Gaza | Gaza, Al- Nasser, Mahmoud Saidam ST |
Al-Nusairat Branch | Naserat | Gaza, Al-Nusairat Junction |
Deir Al-Balah Branch | Deir al-Balah | Gaza, Deir Al-Balah, Main ST |
Khan Yunis Branch | Khan Yunis | Gaza, Khan Yunis, Al Hindi ST |
Rafah Branch | Rafah | Gaza, Rafah, Othman Ibn Affan ST |
Tal Al-Sultan Office | Rafah | Gaza, Tal Al-Sultan, Al-Bahr ST |
Name | District | Address | Cash Deposit | Cheque Deposit |
---|---|---|---|---|
Jenin branch ATM | Jenin | Jenin - Haifa ST - Opposite of district | ||
Ibin Sina Hospital's ATM | Jenin | Jenin - Haifa St. | ||
Al-Nimer Mall ATM | Jenin | Jenin -Abu Baker Street - Al-Nimer Mall Eentrance | ||
Qabatia Office ATM | Jenin | Jenin -Qabatia - Main ST | ||
Sanour ATM | Jenin | Jenin - Sanour Square | ||
Silat al-Dhaher Office ATM | Jenin | Jenin -Silat Al-Dhaher - Main ST | ||
Tubas Branch ATM | Tubas | Tubas - Mani St | ||
Aqaba ATM | Tubas | Tubas - Opposite of Aqaba Municipality | ||
Al-Fara'a ATM | Tubas | Tubas -Wadi Al-Fara'a - Main ST | ||
Tulkarm Branch ATM | Tulkarm | Tulkarm- Nablus ST- Dr. Riyad Shibli Building | ||
Tulkarm Municipality ATM | Tulkarm | Tulkarm - Al Muntazah ST - Municipality building | ||
PTUK ATM | Tulkarm | Tulkarem - Inside The Campus | ||
De'bas Mall ATM | Tulkarm | Tulkarem - Hospital ST - Inside De'bas Mall | ||
Attil Office ATM | Tulkarm | Tulkarem - Main St - Mwafaq Amer's Building | ||
Anabta ATM | Tulkarm | Tulkarem - Anabta -Main ST | ||
Qalqilya Branch ATM | Qalqilya | Qalqilya - Yasser Arafat ST | ||
Nablus Branch ATM | Nablus | Nablus- Sufian ST | ||
Nablus Municipality ATM | Nablus | Nablus - Nablus Municipality Complex | ||
AL-Muntazah Branch ATM | Nablus | Nablus - Shuwaitra ST - Nablus Mall | ||
Al-Hisba Offiec ATM | Nablus | Nablus - Amman ST - PIB Junction | ||
PIB Central Archive ATM | Nablus | Nablus - Eastern Region - Archive Building | ||
Asira ST ATM | Nablus | Nablus - North Asira crossroads | ||
An-Najah National University ATM | Nablus | Nablus - An-Najah National University - Old campus | ||
Sabastia Municipality Atm | Nablus | Nablus - Sabastia Municipality Bldg | ||
Rafidia Office ATM | Nablus | Nablus- Rafidia- Main ST | ||
Huwara Office ATM | Nablus | Nablus - Hawara - Main ST | ||
Bidya Branch ATM | Salfit | Salfit - Badia - The Main ST | ||
Salfit Office ATM | Salfit | Salfit - Shuhda'a 36 ST | ||
AZ-zawya ATM | Salfit | Salfit - Main ST - AZ-zawya Medical Center | ||
Qarawat Bani Hassa ATM | Salfit | Salfit - Qarawat Bani Hassan - Downtown | ||
Turmusaya Office ATM | Ramallah | Ramallah - Turmusaya -Main ST | ||
Ein Yabroud ATM | Ramallah | Ramallah- Ein Yabroud- Main ST | ||
Birzeit ATM | Ramallah | Ramallah - Birzeit - Near to Police station | ||
Al-Istishari Hospital ATM | Ramallah | Ramallah -Al-Rayhan Suburb - Al-Istishari Hospital | ||
Al-Reef ATM | Ramallah | Ramallah - Reef Suburb - AAU ST | ||
Al-Irsal Office Atm | Ramallah | Ramallah- Al-Irsal Main ST | ||
Rammalla Mall ATM | Ramallah | Ramallah - Al-Irsal ST -Inside Ramallah Mall | ||
Bravo Supermarket ATM | Ramallah | Ramallah - Al-Tira - Bravo Supermarket | ||
Plaza Mall ATM | Ramallah | Ramallah - Al-Bireh - inside Plaza Mall | ||
Al-Bireh Branch ATM | Ramallah | Ramallah -Al-Bireh - Near the Red Crescent Hospital | ||
Dunia Mall Atm | Ramallah | Ramallah - Rokab ST - Main Mall entrance | ||
Ramallah Branch ATM | Ramallah | Ramallah - Alquds ST | ||
Al-Masyoun Branch ATM | Ramallah | Ramallah - Al-Masyoun- opposite to Al-Umam Gardern | ||
Betunia Office ATM | Ramallah | Ramallah - Betunia - Main ST | ||
AL-Shinni ATM | Ramallah | Ramallah -Betunia - Al-Shinni Supermarket - Near to Al- Atari Gas station | ||
AS-swess Gaz Station ATM | Ramallah | Ramallah - Al-Quds Street - Inside The Staion | ||
Jericho Branch ATM | Jericho | Jericho- Hisham's Palace ST | ||
Training Authority ATM | Jericho | Jericho - Military Training Authority | ||
Al-Sultan Gaz Station ATM | Jerusalem | Jerusalem - Al-Eizariya - inside the Sultan Gas Station | ||
Al-Eizariya Branch ATM | Jerusalem | Jerusalem - Al-Eizariya - Main ST | ||
Al-Quds University ATM | Jerusalem | Jerusalem - Abu Dis - Al-Quds University | ||
Dar Salah Office ATM | Bethlehem | Bethlehem - Dar Salah - Main ST | ||
Bus Station ATM | Bethlehem | Bethlahem - Inside the Bus Station - GF | ||
Bethlehem Branch ATM | Bethlehem | Bethlehem- Alquds ST - Opposite of district | ||
Halhul Office ATM | Hebron | Hebron - Halhul - Zabod ST | ||
Ras Al-Joura Branch ATM | Hebron | Hebron -Traffic Dept ST | ||
Wadi Al-Tuffah Branch ATM | Hebron | Hebron - Al-Adel ST | ||
Hebron Center B ATM | Hebron | Hebron - Hebron Center Building B - 3ed Floor | ||
Ethna Branch ATM | Hebron | Hebron - Ethna - Municipality ST | ||
Al-Shyoukh Office ATM | Hebron | Hebron- Al-Shuyoukh Main Entrance | ||
Dura Branch ATM | Hebron | Hebron- Dura- The Bank's ST | ||
Tarqumia ATM | Hebron | Hebron - Tarqumiya - Main ST | ||
Dura municipality Atm | Hebron | Hebron - Dura Municipality Building | ||
Ad-Dhahiriya Office ATM | Hebron | Hebron - Ad-Dhahiriya- Main ST | ||
Yatta ATM | Hebron | Hebron - Yatta - Zaid Mall Entrance | ||
Surif ATM | Hebron | Hebron - Surif - Near to Al-Asas Gas Station | ||
As-Samu' Offiec ATM | Hebron | Hebron - As-Samu' - Main ST | ||
PPU ATM | Hebron | Hebron - Polytechnic University - Registration Building | ||
AL-Bayed Mall | Hebron | Hebron -First container - Inside AL-Bayed Mall | ||
Al-Ahli Hospital ATM | Hebron | Hebron - Al-Ahli Hospital Building | ||
Beit Awwa ATM | Hebron | Hebron - Beit Awwa - Main ST | ||
Kharas ATM | Hebron | Hebron - Kharas - Municipality Building | ||
Jabalia Branch ATM | Jabalia | Gaza- Jabalia - Saleh Dardouna ST | ||
Al-Muqaied ATM | Jabalia | Gaza - Jabalia - Al-Muqaied Mall | ||
Beit Lahia Office ATM | Beit Lahia | Gaza - Beit Lahia- Main ST | ||
Hamadeh Gaz Staion ATM | Gaza | Gaza - Tal Al-Hawa - Hamada Gas Station | ||
Gaza Branch ATM | Gaza | Gaza - Omar Al Mukhtar ST | ||
Al-Nasser Branch ATM | Gaza | Gaza - Al- Nasser - Mahmoud Saidam ST | ||
Al-Shuja'iyya Office ATM | Gaza | Gaza - Al-Shuja'iyya - Salah Al-Din ST | ||
Al-Nusairat Branch ATM | Naserat | Gaza - Al-Nusairat Junction | ||
Deir Al-Balah Branch ATM | Deir al-Balah | Gaza- Deir Al-Balah- Main ST | ||
Khan Yunis Branch ATM | Khan Yunis | Gaza - Khan Yunis- Al Hindi ST | ||
Rafah Branch ATM | Rafah | Gaza - Rafah - Othman Ibn Affan ST | ||
Tal Al-Sultan Office ATM | Rafah | Gaza - Tal Al-Sultan - Al-Bahr ST |
Through its different campaigns, PIB is promoting the concept of savings and good economic habits among members of the community. In 2022, PIB launched the “Saving 22” campaign, which encourages clients to open new savings accounts or replenish their existing accounts by offering prizes exceeding 1,400,000 shekels. They include 9 major cash prizes, in addition to three special draws on International Women’s Day, Eid al-Adha, and the start of the new academic year. In each draw, 22 prizes of $500 each were granted.
The grand cash prizes were won by 9 clients from different governorates, namely:
As part of PIB’s continuous efforts to raise awareness of Islamic banking in general and the banking services it provides in particular, a series of meetings and seminars were organized in various governorates in cooperation with chambers of commerce and businessmen forums given their importance in the Palestinian economy. Explanations were provided to the attendees on the most popular concepts and structures in Islamic banking, with an introduction to the banking services and products provided by PIB which meet their needs and aspirations, such as World Mastercard, Platinum Mastercard and other electronic services.
In addition, PIB sponsored a number of awareness-raising events and activities in banking, in different governorates, such as the "Bank Day" held at the Arab American University in Jenin, and the first Islamic Economics Festival at Hebron University.
As part of PIB’s efforts to strengthen external partnerships and support the achievement of sustainable development, it signed an investment agreement with the Sanad Global Fund to support the MSME sector in Palestine.
Under the agreement, the "Sanad Fund" will invest one million dollars through PIB to support small, medium and micro enterprises, especially those affected by the economic repercussions of the COVID pandemic.
PIB has always focused on sustainability financing. For this reason, it signed a cooperation agreement with the Agricultural Credit Fund, according to which a program was launched to finance agricultural projects.
The program strengthens farmers’ resilience by granting them facilities to effectively contribution to the development of this sector in light of the great challenges it faces.
In a new achievement for customer data security protection, PIB received the PCI-DSS Payment Cards Data Security Standards Compliance Certificate for the third year in a row.
PIB obtained the certificate following the examination and audit of all its security policies, procedures and requirements for payment cards, by Sovereign Secure, a company specialized in information security and approved by the Global Payment Cards Security and Protection Council. It was found that PIB met all the requirements of the certificate.
Obtaining PCI-DSS certification is a prerequisite for dealing with world leading card service providers which have developed such standards.
PCI DSS Objectives:
As it continues to strive for excellence and provide unique banking services and products, PIB obtained the international quality certificate ISO 9001: 2015
This is the result of an external audit carried out by GCL Palestine – a representative of GCL International, a global company specialized in this field. It found that PIB met all the requirements for obtaining the certificate, namely an advanced quality management system that adheres to all international standards and principles of ISO 9001: 2015, including:
Customers’ Segmentation System
In order to enhance the quality of financing services offered to customers, and to meet their needs and improve the efficiency of such services, PIB worked on developing a segmentation system for retail customers that shall achieve the following:
PIB sponsored a number of exhibitions and festivals in 2022, to strengthen its local presence. It supported these events and contributed to their success, given their importance in improving the economy and their positive impact on various sectors.
With these sponsorships and exhibitions, PIB marketed its banking products and services through a special booth. The most prominent sponsorships included:
Best Islamic Bank in Palestine Award
As a result of PIB’s continuous achievements in 2022 and its provision of unique banking services and products that meet the needs and aspirations of customers, it was awarded the “2022 Best Bank Providing Shari’a-compliant Banking Services and Products in Palestine” award by the World Union of Arab Bankers.
Award for the best Islamic card in Palestine
As PIB launches the most advanced first of their kind in Palestine Islamic credit cards, it was awarded the “Best Islamic Card in Palestine for 2022” award by the International Finance magazine for its World, Platinum and Tayseer credit cards.
As part of PIB’s digital transformation strategy and to provide the latest banking services to its customers, it developed its ATM network by adding new ATMs that meet the latest international specifications, in addition to updating the existing ATMs.
This development process came as a result of the agreement that PIB had previously signed with the Jordanian Company for Management of Systems, Businesses and Agencies “JBS”, a pioneer in this field.
The new ATMs enhance the banking experience of customers. They are highly efficient and fast, and rely on technologies that facilitate access to accounts, such as contactless technology, which allows the use of the ATM by simply swiping the card without the need to insert it into the machine. The ATMs also have a high-resolution touch screen. In addition, they will meet the future needs of customers in terms of services that can be provided through ATMs, which the Bank is constantly developing.
In line with PIB’s vision of excellence in Islamic finance, it launched the first credit cards of their kind in the Islamic banking market in Palestine, World/Platinum cards from MasterCard, as part of its strategy to provide qualitative and modern banking solutions and invest in advanced technology that meets the needs of customers.
The World/Platinum cards allow PIB’s customers to purchase goods, commodities and services, and make online purchases, with the ability to pay in installments for different periods according to the customer's desire, or pay in cash, in accordance with the provisions of Islamic Shari’a. These cards also offer a wide network of discounts through local and global points of sale.
To facilitate access for customers and in line with the digital transformation strategy, the package of banking services provided by PIB was enhanced in 2022 through a 24-hour digital contact center. New services include cards, checks, accounts, financing and electronic services.
The center's role in evaluating the quality of services provided to customers through the bank's various branches and offices has also been strengthened.
The center provides services to customers around the clock (24/7) with no interruption, including on official holidays and working days, through its multiple digital channels:
Communication channels
As part of PIB’s strategy for digital transformation and to facilitate quick and easy access to services by customers, it expanded the electronic payment network of "Islami Online" and "Islami Mobile" to include many other entities and in different sectors.
PIB provides these services to its customers through an easy, fast and secure environment, which enhances their banking experience and improves their level of satisfaction with the services provided.
In terms of developing the Bank’s electronic archiving system, many new services, such as the archiving of customers, financing, and employee files, were launched. These new services shall reduce human effort and mitigate errors.
In order to offer the highest quality of banking services through an efficient, fast, and responsive banking system, the current banking system has been upgraded to the BANKS 10 version to benefit the best and most recent services.
In the same respect, Islami Online and Islami Mobile services were also upgraded. The upgrade encompassed enhancing their security and protection systems to ensure that customers continue to enjoy highly user-friendly, fast, and secure services
In order to enhance the supervisory environment and ensure that work is conducted through the latest systems and programs, the systems of the supervisory departments, such as Safe Watch, were upgraded upon adding new lists thereto, along with upgrading IMACH and CARE systems
As part of its efforts to protect customer data security, PIB announced the launch of the 3D Secure system for cards. The 3D Secure feature provides additional protection for customers' data when they make online payments using bank cards linked to the global MasterCard network at sites and stores that support such features. This free feature provides security and protection against fraud and unauthorized online transactions.
Advantages
To download Financial Statements for the year 2022 Click Here
Statement | 2022 | 2021 |
---|---|---|
Return on equity ratioة | 10.69% | 10.45% |
Return on assets ratio | 0.97% | 0.86% |
Basic and Diluted Earnings per share | 0.17 | 0.15 |
Financing to deposit ratio | 72.64% | 68.99% |
Percentage of change | 2021 | 2022 | Statement |
---|---|---|---|
(72.07%) | 22,568,588 | 6,304,105 | Number of shares traded |
(70.72%) |
42,210,750 | 12,357,290 | Value of shares traded (USD |
(4.06%) | 1504 | 1,443 | Number of executed deals |
4.21% | 1.90 | 1.98 | Closing price |
8.25% | 1.94 | 2.10 | Highest trading price |
Statement | 2022 | 2021 | Change in value | Change in ratio |
---|---|---|---|---|
Total assets | 1,516,335,930 | 1,656,425,003 | (140,089,073) | (8.46%) |
Customer deposits | 1,236,609,601 | 1,290,482,717 | (53,873,116) | (4.17%) |
Net financing | 898,219,397 | 890,363,440 | 7,855,957 | 0.88% |
Equity | 148,461,111 | 138,649,080 | 9,812,031 | 7.8% |
Net profit after tax | 15,346,058 | 13,685,189 | 1,660,869 | 12.14% |
Legal procedures and issues:
The number of cases filed against the Bank within its normal activity was 86 and 75 cases as of December 31, 2022 and December 31, 2021, respectively. The value of the cases filed against the Bank amounted to $ 12,744,562 and $15,602,224 as of December 31, 2022 and December 31, 2021, respectively. In the opinion of the Bank’s management and legal department, the Bank will not incur any further liabilities from these cases and has sufficient provisions to deal with them.
Government protection and benefits:
There are no governmental protections or privileges enjoyed by the Bank or any of its products in relation to laws or regulations and there are no patents or franchises obtained by the Bank.
Decisions with material impact on international quality standards:
There are no decisions issued by the executive, judicial, or legislative authorities; international organizations; Israeli Occupation, or by any other entity, which have a material impact on the work of the Bank, its products, or its ability to continue as a going concern.
Related party contracts and deals:
There are no contracts and deals with related members of the board of directors not disclosed in the financial statements.
The Bank's subsidiaries:
The bank has no subsidiaries.
Relying on major suppliers and customers:
There are no specific suppliers or major domestic or external clients who make up 10% or more of the bank's total purchases.
External auditing:
The bank, based on the relevant instructions and regulations, has a contract with an external auditing company for the purpose of submitting a report on the fairness of the annual financial statements to the shareholders of the Bank based on international standards for the practice of auditing and the professional rules, principles and ethics.
External auditor:
Ernst & Young
The following are the details of investments made in affiliate companies as of December 31, 2022:
Financial position of affiliated companies | Takaful | Ijara | Total |
---|---|---|---|
2022 | 2022 | 2022 | |
USD | USD | USD | |
Assets | 93,480,027 | 25,813,739 | 119,293,766 |
Liabilities | 69,525,411 | 13,521,504 | 83,046,915 |
Equity | 23,954,616 | 12,292,235 | 36,246,851 |
The Bank's share of the results of its affiliated companies:: | |||
Results for the period | 234,505 | 188,486 | 422,991 |
Other comprehensive income items | - | - | - |
To discuss the strategic plan and directions for the next four years 2023-2026, PIB held strategic retreat meetings that were attended by the Chairman and members of the Board of Directors and the Shari’a Supervisory Board, as well as the General Manager, his deputees, regional directors, and various department and branch managers. These meetings were held based on the belief in the principle of Shura, which falls under the Council’s implementation of the best standards of good governance and institutional excellence.
The meetings held with the participation of His Excellency the Governor of the Palestinian Monetary Authority, Dr. Feras Melhem highlighted PIB’s achievements in implementing the previous strategic plan. They showed how PIB succeeded in achieving its desired goals despite all the challenges and difficulties faced by the banking sector over the past years. They also discussed existing challenges, competitive advantages and opportunities.
The meetings defined PIB’s most important goals for the next four years: achieving an advanced position in the Palestinian banking sector, by raising the effectiveness and quality of business development activities, developing a supportive work environment, enhancing belonging and leadership in digital transformation, reducing the business-associated risks, and continuing to promote sustainable community partnership.