The Palestine Islamic Bank Public Shareholding Company (PIB) was established in 1995, and the bank started its banking activity in early 1997. Its authorized capital is 100 million shares, with a nominal value of one US dollar per share. Since its establishment, PIB’s paid-in capital has been increased several times, most recently in 2022, where it was increased to USD 90 million from USD 85 million in 2021.
PIB engages in banking, financial, commercial and investment activities in accordance with the provisions of Islamic Sharia, through 43 branches and offices and more than 90 ATMs throughout Palestine. This attests to its reputation as the largest Islamic banking network in Palestine and is consistent with its vision to be the leading Palestinian Islamic bank that responds to the needs and requirements of its customers.
PIB constantly seeks to meet the financial needs of all segments of the local community. It spares no effort to achieve its mission with excellence by providing quality and modern banking solutions which are consistent with the provisions of Islamic Sharia. It also focuses on developing and attracting highly qualified human resources to provide the best Islamic banking services to customers and innovate products meeting their ambitions to ensure they enjoy a distinctive banking experience. Thanks to these efforts, PIB was chosen as the “Best Islamic Bank in Palestine” for 2021, by the International Business and International Finance magazines.
PIB operates according to a well-studied and systematic plan for digital transformation. It launched a number of digital services and products for customers to enable them to access banking services quickly, easily and around the clock. As a result of these endeavors, PIB received the “Best Digital Bank in Palestine” award for 2021 by International Business Magazine.
PIB believes in its role in contributing to sustainable development, by implementing projects with a positive and sustainable impact, especially in the health and education sectors. It is also making efforts to protect the environment by adopting a solar energy system in 15 branches and offices. This helps in reducing harmful gas emissions. In parallel with these efforts, PIB was the first Palestinian Islamic bank to join the UN Global Compact, a UN-led initiative to encourage companies from all over the world to adopt sustainable and socially responsible policies. Thanks to these efforts, PIB received the “Best Socially Responsible Bank” in Palestine award for 2021, from the International Finance magazine.