“Palestine Islamic Bank” the Safest Bank in Palestine for the year 2020

Palestine Islamic Bank (PIB) was recently awarded the “safest Islamic Bank in Palestine” award for the year 2020 from the World Union of Arab Bankers and “The Banking Executive Magazine”.

This had taken place during a ceremony organized by the Union to announce the winners of the “Excellence and Achievements Award 2020” in Beirut, in the presence of a gathering of Arab bankers, supervisory figures and regional institutions.

PIB’s General Manager, Imad Al-Sadi, said that receiving this award comes as a result of the tireless efforts made by the Bank to develop its strategies in various fields in support of digital transformation plans, risk management and adherence to the best international standards that ensure its work, efficiently and effectively, while preserving its Islamic identity.

Al-Sadi added during a speech at the ceremony, via video conference: “The year 2020 was full of challenges, especially the repercussions of the Corona pandemic, and the consequential financial crisis suffered by the Palestinian government; however, we were able to deal with it and overcome it, while simultaneously preserving the rights of our customers and our shareholders.”

Al-Sadi stated that this achievement is an affirmation of the stability of the Bank’s performance and the success of its strategic plans due to the astute vision of the board of directors and its adherence to the best international standards of good governance. He also expressed his gratitude to the bank staff and all employees for their sincere efforts to achieve the bank goals.

Moreover, Al-Sadi referred to the Bank’s continuous efforts to enhance the security and protection of its networks, systems and banking services; noting that this year the Bank received the Compliance Certificate to the Payment Card Industry Data Security Standards (PCI DSS), which is granted to banks and institutions that deal with bank cards of all kinds, to ensure the highest levels of protection to the information and sensitive data of cardholders.

It should be noted that this award was granted to the Bank based on an evaluation of its performance by the “Banking Executive Magazine”, in accordance with the best international standards used in measuring banking performance.

PIB is the leading Islamic financial institution in Palestine with a clear strategic vision in the Sharia-compliant financing and investment arena. It has been a first mover in bringing innovative sharia-compliant financial products to its retail and corporate customers taking full advantage of advanced technologies in providing various banking services through its digital channels, which contributes to achieving a distinguished banking experience.