Palestine Islamic Bank (Public Limited 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 2023, reaching USD 100 million from USD 90 million in 2022.
PIB engages in Sharia-compliant banking, financial, commercial, and investment activities. Through more than 43 branches and offices, and more than 100 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.