Palestine Islamic Bank Holds Its Ordinary General Assembly Meeting and elects a new Board of Directors
Palestine Islamic Bank (PIB) held its Ordinary General Assembly meeting for the year 2025 at the Bank’s General Administration headquarters in Ramallah, during which a new Board of Directors was elected for the upcoming term.
The meeting was attended by the Chairman of the Board Mr. Maher Al-Masri, members of the Board of Directors, General Manager Dr. Imad Al-Sadi, the executive management, the Sharia Supervisory Board, representatives of the Companies Controller, the Palestine Monetary Authority, the Capital Market Authority, the Palestine Exchange, the external auditor, and the legal advisor, in addition to a number of the Bank's shareholders.
During the meeting, the General Assembly discussed and approved the Board of Directors’ report on the Company’s activities for the financial year ending on 31/12/2025. It also reviewed the external auditor’s report, approved the financial statements, received a briefing from the Sharia Supervisory Board through a report, and discussed the Bank’s future plans.
The General Assembly also approved the Bank’s business results for the year 2025 and appointed Ernst & Young as the external auditor for the financial year 2026, authorizing the Board of Directors to determine its fees.
During the meeting, a new Board of Directors consisting of 11 members was elected, including three members representing the National Islamic Investment Company, one member representing the Palestinian Pension Authority, one member representing Razan Specialized Medical Center, one member representing Birzeit Pharmaceutical Company, Mr. Salah Al-Daghma representing himself, one member representing minority shareholders, and three independent members.
The newly elected Board of Directors held its first meeting and renewed its confidence in Mr. Maher Al-Masri as Chairman of the Board and Mr. Talal Nassereddin as Vice Chairman. All Board committees were also formed.
Mr. Al-Masri stated that 2025 was marked by escalating difficulties and challenges; nevertheless, the Bank achieved numerous accomplishments across its operations and succeeded in recording growth in most of its financial indicators. The Bank also strengthened its financial base by increasing its capital by USD 6 million, reflecting the strength and stability of its financial position.
Al-Masri added: “These results were achieved through the sound planning of the Board of Directors and its continuous oversight of the Bank’s operations through its various committees, in cooperation and coordination with the executive management. In fact, the executive management worked tirelessly and relentlessly to achieve these results, under the supervision of the Sharia Supervisory Board, which spared no effort in ensuring compliance with Sharia principles, aligning modern products with the principles of Islamic banking, and raising public awareness in the field.”
Al-Masri further noted that throughout 2025, PIB continued its prudent policy of provisioning against potential losses and maintained provisions aligned with the growing challenges. The Bank also continued providing services to customers in the Gaza Strip through its Gaza and Deir Al-Balah branches, relying on its unique staff, who continue to make significant efforts to serve customers within the available capabilities and prevailing circumstances. He emphasized that the ongoing cooperation and coordination with the Palestine Monetary Authority played a significant role in finding appropriate solutions during difficult times and overcoming challenges.
He added: “During 2025, PIB continued to develop its Islamic banking services and products and strengthen local and international partnerships in the industry, in addition to enhancing digital channels and electronic payment solutions, in line with the Bank’s digital transformation strategy. Under this strategy, dozens of advanced internal systems were launched, while cybersecurity measures and procedures were further strengthened. As a result of these achievements, the Bank ranked second among Palestinian banks in the field of digital transformation and electronic services, according to the Palestine Monetary Authority’s evaluation.”
Al-Masri also pointed out that these achievements coincided with the Bank’s continued efforts to strengthen its contributions toward sustainable social responsibility initiatives, particularly in the health, education, and relief sectors. These initiatives included the establishment of a school in the Gaza Strip in partnership with the Ministry of Education and Higher Education, as well as an agreement to cover the education costs of 200 students in Gaza in partnership with SOS Children’s Villages Palestine. He further noted that during 2025, the Bank launched its first Sustainability Report as part of its commitment to implementing Environmental, Social, and Governance (ESG) standards, emphasizing that this report represents a milestone in the Bank’s institutional development journey and a key pillar for achieving balanced and sustainable growth.
The vision and mission of Palestine Islamic Bank focus on excellence in providing modern and secure banking and investment solutions in accordance with the principles of Islamic Sharia. The Bank also adopts a well-defined strategy to advance its digital transformation journey, supported by a cybersecurity strategy aimed at safeguarding all customer data, which has resulted in the launch of pioneering digital services.