Palestine Islamic Bank Opens an Office in Qabatiya

Under the patronage of His Excellency the Governor of the Palestinian Monetary Authority, Mr. Azzam Shawwa, Palestine Islamic Bank opened a new office in Qabatiya town, which is located to the south of Jenin City, in order to offer banking services that are compatible with the principles of the Islamic Sharia in the area.

The inauguration of the new office, which was conducted in Qabatiya, was preceded with a visit from the Governor of the Palestinian Monetary Authority, the Governor of Jenin, and the Mayor of Qabatiya, and a group of respected personalities, to the new office. During the visit, the visitors saw the modern preparations that were designed to give the clients a special experience that helps them in completing their banking transactions easily and safely. The visitors were greeted by the Chairman of the Board of Palestine Islamic Bank, Mr. Maher AlMasri, the General Manager of the Bank, Mr. Bayan Qasem, and his Assistant for the distribution network, Mr. Imad Alsaadi, and the manager of the Norther areas at the Bank, Mrs. Khitam Abu Aitah, in addition to a number of branch managers, department managers, and the manager and employees of Qabatiya Office.

The General Manager of Palestine Islamic Bank, Mr. Bayan Qasem, emphasized on the Bank’s interest in the areas located to the north of the West Bank, as these areas have an important economic weight and promising investment opportunities. Additionally, Mr. Qasem also asserted the Bank’s ongoing quest towards making Islamic banking services available in the different areas and locations, for all citizens, in compliance with the instructions and directions of the Palestinian Monitory Authority related to financial inclusion.

Moreover, Qasem noted that the Bank is currently increasing its reliability on the development of an electronic platform, in an effort to keep up with the latest developments and in order to provide the clients with high-level professional banking services, in a modern manner that fulfills their banking needs and aspirations. Qasem named the services offered through “Islami Online” service to the attendees, and mentioned that these services are also available through smartphones, through the “Islami Mobile” application. Additionally, Qasem mentioned that the clients can also connect to their accounts directly using Facebook website through the “Islami Auto” service. These services are being constantly developed through the signing of numerous online payment agreement with national companies that clients deal with on regular basis.

Additionally, Qasem said: “Our main goal from offering these service bundles is to please our clients, and to give them added value during their dealing with Palestine Islamic bank”, revealing the Bank’s readiness to announce a new group of advanced services and to sign new agreement with more companies during the upcoming year.

Mr. Qasem thanked the Palestinian Monitory Authority, represented by His Excellency the Governor of the Palestinian Monetary Authority, Mr. Azzam Shawwa, and the staff of the Authority for their efforts in facilitating the work of the banking sector and for providing the regulatory frameworks that ensures its safety and the safety of the monies of the clients and investors. Moreover, Qasem extended his thanks to the local authorities including the Governorate and the Municipality, for the help and assistant they offered to the Bank in its preparation and opening of the Office.

His Excellency the Governor of the Palestinian Monetary Authority, Mr. Azzam Shawwa, congratulated the Palestine Islamic Bank for the opening of its new office in Qabatiya town, which is dear to everyone, and contains one of the largest populations in Jenin governorate, in continuation of the Monitory Authority’s approach and strategy that aims at encouraging the spreading of new branches and offices for banks in order to cover all areas. Mr. Shawwa also mentioned that Palestine Islamic Bank is a vital and active bank that is distinguished for its wide range of services and contributions, and is present in all the Palestinian governorates, and in many remote areas, and contributes actively and tangibly in social responsibility.

His Excellency the Governor of the Palestinian Monetary Authority explained that the assets of Islamic banks have reached over 2.3 billion Dollars, and the customers’ deposits have reached 1.8 billion Dollars, 165 million of which are in Jenin governorate. Additionally, the total amount of offered facilitations is around 1.5 billion Dollars, 84 million of which are in Jenin Governorate. The number of branches and offices of Islamic Banks is 67 branches and offices spread all around Palestine, 6 of which are in Jenin Governorate, all up to 31/10/2018.

His Excellency Mr. Azzam Shawwa stated that he is proud of the accomplishments made by the banking sector in terms of performance stability and durability and the speed of development and spreading, where the net assets of the banking sector reached over 15.4 billion Dollars, and the customers’ deposits reached over 12 billion Dollars, 855 million of which are in Jenin governorate, and total amount of offered facilitations is around 8.3 billion Dollars, 367 million of which are in Jenin governorate. The number of branches and offices: 347, 28 of which are in Jenin Governorate.

Moreover, His Excellency the Governor pointed out that the national strategy for financial inclusion in Palestine was launched two days age under the patronage of His Excellency the President, and that the electronic financial clearance system will be launched in the very near future. Additionally, Mr. Shawwa mentioned that the Palestinian Central Bank’s Law is in its final stages, and is expected to be completed and approved during the upcoming period, and that the work on building a national strategy for e-payment methods is in process, which will include mobile payment methods.

From his side, the Governor of Jenin, Major General Akram AlRjoub, considered the expansion of Palestine Islamic Bank in the governorate as a new and unique addition that will stimulate the economy and help in developing it. Moreover, Mr. AlRjoub called for more participation and integration between the different national institutions.

The Mayor of Qabatiya welcomed Palestine Islamic Bank and the guests, ensuring that his Town opens its doors for all sincere national efforts that aim at developing the society and promoting it.

In the same context, the Sharia Regulatory Board at Palestine Islamic Bank emphasized on the Bank’s commitment to providing its services in compliance with the Sharia basis and accounting principles, in accordance with the decisions of the related Fiqh councils, as the Board adopts numerous tools to guarantee the compliance of the offered banking transactions with the principals of the

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