Mr. Masri holds a BA and MA in economics from the American University of Beirut. He has worked as an economist in Lebanon, the UK, Jordan, Saudi Arabia and Palestine. In 1996, he was elected to the Palestinian Legislative Council (Parliament) and later served as minister of national economy until 2005. As a minister, he chaired the Palestinian Investment Promotion Agency (PIPA), Palestine Standards Institution (PSI) and Palestinian Industrial Estates and Free Zone Authority (PIEFZA). He was the Chairman of Palestine Capital Markets Authority, and the Palestine Exchange (PEX). Presently, he is the chairman of the Associations of Banks in Palestine, and a board member of the Palestine Investment Fund. Also he is a member of the Board of Trustees at Birzeit University, and Palestine Economic Policy Research Institute (MAS).
Mr. Talal Nasereddin holds a master’s degree in industrial chemistry from the American University of Beirut. He is the chairman of Birzeit Pharmaceutical Company since 1990, and the CEO of Birzeit Pharmaceutical Company from 1/4/1984 till 31/10/2024. In addition, Mr NaserEddin is the chairman of the Board of Directors of Abraj Investment & Development, chairman of Petropal for Mineral Oils, and Pal Ox for Natural Gas, and chairman of Lotus Financial Investment Company. He is also a board member of PalTel Group and the Palestinian Electricity Company, and Arab Hospitals Group.
He holds a bachelor’s degree in Accounting from Ain Shams University in Egypt, and is currently the CEO of Vitas Palestine, an extension of Ryada Lending and Financial Services, a Cooperative Housing Corporation (CHF) affiliate. Mr. Sesalem has over 35 years of professional experience in financial services, management and finance. He played a key role in the establishment and management of Vitas Palestine in the Palestinian Territories and contributed to ideas for credit management information systems through his work as an international consultant to CHF around the world. His career began in 1995 when he joined the CHF family as a financial manager, where he managed the financial affairs of HILP, a USAID funded institution. In 1996, he was appointed Deputy Director of ACP-CHF International, the USAID-funded home improvement loan program and became program director in 1998. Until 2008, he was the financial and administrative manager of the Cooperative Housing Corporation (CHF). He played a key role in unifying all the financial departments of CHF into one central unit. He also held several important positions. He was elected Chairman of the Board of Directors of the Palestinian Union for Small and Microfinance “Sharaka” in 2017, and he remains a member the Board today. At the end of 2021, he was elected as a member of the Board of Directors of the Palestine Islamic Bank.
He holds a B.B.A. in Finance from the George Washington University and completed a two-year, intensive wholesale credit-training program at the Philadelphia National Bank/Wharton Business School. He managed the facilities portfolio of the aforementioned bank in Japan and Thailand. In the early 1990s, Masri was a financial investment manager at Foreign & Colonial Emerging Markets in the United Kingdom. He founded and managed the world's first Middle Easter investment fund, which was listed on the New York Stock Exchange in 1996. He founded and managed Atlas Investment Group for investment banking and financial advisory, which was acquired by Arab Bank in 2004, becoming its investment arm under the name AB Invest. He was appointed as the first head of global investment banking at Arab Bank and represented it at several institutions, including the Arab National Bank/Saudi Arabia. Masri founded the CFA Society Jordan in 2002 and is licensed as a financial advisor, broker, and investment manager by the Jordan Securities Commission. He co-founded the Dubai International Financial Exchange (Nasdaq Dubai) through his membership in the DIFX Practitioner Commission in 2004.
Mohammed Abukhaizaran is a distinguished finance professional currently overseeing the investment portfolio at Rozan Medical Center. He serves as a board member at the Arab Hospitals Group, Arab Palestinian Investment Company (APIC), and Tamkeen Insurance Company, showcasing his leadership across diverse sectors. His background in financial auditing was extensively developed at Ernst and Young, providing him with a deep understanding of financial systems and controls. Abukhaizaran holds a Bachelor’s degree in Finance from the American University of Sharjah and a Master’s degree in Finance from IE Business School. Demonstrating an unwavering commitment to continuous professional development, he has been a Chartered Financial Analyst (CFA) since 2021. His pursuit of excellence in finance is further evidenced by earning the Financial Risk Manager (FRM) and Financial Data Professional (FDP) certifications, along with the prestigious CFA Institute Certificate in ESG Investing. These accolades underline his expertise in risk management, data-driven financial analysis, and sustainable investing practices, affirming his status as a dynamic and insightful leader in the financial domain.
Mr. Al Daghma holds a BA in literature from Beirut Arab University. He has held many leading positions with companies, including Head of Tenders and Procurement in the Abu Dhabi Government for 20 years. He also served as a senior staff member with Sheikh Zayed. He has various investments and participates actively in local, regional and international forums and conferences, in addition to owning Dadco Export-Import in Germany
He holds an MBA from the University of Arkansas, USA, and a BA in Business Administration and Economics from Yarmouk University, Jordan. He currently serves as Governor of the Palestine Monetary Authority. He previously held several positions, including Chairman of the Board of Directors of the Orphans' Funds Management and Development Foundation as Minister, and a member of the Board of Directors of Tamkeen Insurance Company. He headed real estate investments at Ibdar Islamic Investment Bank and was Chief Investment Officer of Capivest Islamic Bank in the Kingdom of Bahrain from 2007 to 2017. He served as Investment Director at the Palestine Development and Investment Company (PADICO) and Assistant to the Director-General of the Palestine Securities Exchange from 1996 to 2000. He served as Director-General of the General Secretariat of the Council of Ministers and Secretary of several ministerial committees from 2003 to 2006. He took part in the negotiations for the transfer of civil powers and the Oslo II transitional period negotiations as head of the logistics team from 1993 to 1995.
He holds a master's degree in civil engineering from Manhattan University, New York. He was previously elected to the Board of Directors of the Palestinian Housing Council and previously served on the Board of Directors of Takaful Insurance Company. He currently serves on the Board of Directors of the Arab American University, Tamkeen Insurance Company, and the Orphan Funds Care Foundation. He served as General Manager of Lada Contracting Company in Saudi Arabia and currently serves as General Manager and Owner of Midmac General Contracting since 1999.
He holds a PhD in Law from Abdelmalek Saadi University in Morocco. Between 1996 and 1999, he was a Legal Adviser at the State Audit and Administrative Control Bureau and served as Assistant Undersecretary in the Palestine Pension Authority from 1999 until 2013. He is the Vice Chairman of the Board of Directors of the Orphans Fund Management and Development Foundation and a member of many boards of directors is local institutions.
He holds a bachelor's degree in accounting from An-Najah National University in 1994, and an MBA from An-Najah National University in 2001. He worked in the banking sector for 28 years (16 years in Palestine and 12 in the United Arab Emirates) with a number of banks in Palestine including the Arab Bank, Cairo Amman Bank, and Arab Bank in the UAE. During the last 17 years, his work focused on business development and credit. He is a member of the finance, facilities and asset management committees. He served as Senior Vice President, Head of the Department of Corporate banking and financial institutions in Palestine (2017-2022) at Arab Bank Palestine, and Senior Director of Corporate and Financial Institution Banking at Arab Bank in Abu Dhabi from 2005 to 2017. He took part in a large number of courses, conferences and scientific programs on banking and economic business in Palestine and other Arab and European countries.
Dr Sultan holds a Ph.D. in Business Administration from Maastricht University in the Netherlands, he is currently associate professor and director of the Master's Program in Supply Chain Management at Birzeit University and Head of Business Administration and Marketing Department. He is a member of the general assembly of the Palestinian Investment Fund. Dr. Sultan also works as a consultant with several international institutions in the areas of strategic planning and governance.
Mr. Al Abwah holds a BA degree in accounting from Birzeit University, and an MA degree in accountancy from George Washington University, Washington DC. Currently, he is the chief audit executive at the Palestine Investment Fund, in charge of the internal audit and risk management functions. He has over 20 years of experience in auditing and management consultancy services with leading international accounting firms, both locally and internationally. Mr. Al Abwah is a US Certified Public Accountant "CPA", a Canadian Chartered Accountant "CA", a Certified Internal Auditor "CIA", and a Certified Information System Auditor "CISA".
| Member name | Representing | Board sessions | Board sessions attended | Attendance rate |
|---|---|---|---|---|
| Mr. Maher Masri | National Islamic Investment Company | 5 | 5 | 100 % |
| Mr. Talal Nasir El Din | Birzeit Pharmaceutical Company | 5 | 5 | 100 % |
| Mr. Alaa Sesalem | National Islamic Investment Company | 5 | 5 | 100 % |
| Mr. Omar Masri | National Islamic Investment Company | 5 | 5 | 100 % |
| Muhammad Abu Khaizran | Rozan Medical Center for Infertility & I.V.F | 5 | 5 | 100 % |
| Mr. Salah Al-Daghma | Independent member | 5 | 5 | 100 % |
| Mr.Yahya Shunnar | Orphans Fund Development and Administration Foundation | 5 | 4 | 80 % |
| Dr. Majed El Helou | Minority shareholders | 5 | 5 | 100 % |
| Mr. Ashraf Yassin | Independent member | 5 | 5 | 100 % |
| Dr. Sohail Sultan | Independent member | 5 | 5 | 100 % |
| Mr. Abdul Hamid Al-Abouh | Independent member | 5 | 5 | 100 % |
| Name | Number of seats | 2023 | 2024 | Percentage of ownership |
|---|---|---|---|---|
| National Islamic Investment Company | 3 | 24,849,966 | 24,849,966 | 24.85% |
| Razan Medical Center for Infertility | 1 | 10,000,000 | 9,999,818 | 10.00% |
| Mr. Salah Al-Daghma | 1 | 9,396,635 | 9,554,135 | 9.40% |
| Birzeit Pharmaceutical | 1 | 8,484,118 | 8,484,118 | 8.48% |
| Orphans Fund Development and Administration Foundation | 1 | 7,014,797 | 7,014,797 | 7.01% |
| Mr. Abdul Hamid Al-Abouh – independent member | 1 | 13,511 | 13,511 | 0.01% |
| Dr. Majed El Helou - Representative of minority shareholders | 1 | 15,993 | 15,993 | 0.02% |
| Dr. Sohail Sultan – independent member | 1 | - | - | - |
| Mr. Ashraf Yassin – independent member | 1 | - | - | - |
-
| Name | Number of shares | Contribution percentage | ||
|---|---|---|---|---|
| 2023 | 2024 | 2023 | 2024 | |
| National Islamic Investment Company | 24,849,966 | 24,849,966 | 24.85% | 24.85% |
| Palestinian Pension Agency | 10,301,935 | 10,301,935 | 10.30% | 10.30% |
| Razan Medical Center for Infertility | 9,999,818 | 9,999,818 | 10.00% | 10.00% |
| Mr. Salah Al-Daghma | 10,000,000 | 9,554,135 | 9.40% | 9.55% |
| Birzeit Pharmaceutical Company | 8,484,118 | 8,484,118 | 8.48% | 8.48% |
| Orphans Fund Development and Administration Foundation | 7,014,797 | 7,014,797 | 7.01% | 7.01% |
| Aswaq Investment | 4,336,347 | 5,025,619 | 4.34% | 5.03% |
One: A summary of the remunerations and expenses related to Board members (in USD)
| Name | Position | Allowance for attending sessions and daily allowances for 2024 | |
|---|---|---|---|
| National Islamic Investment Company represented by | |||
| Mr Maher Masri | Chairman of Board of Directors | 8,300 | |
| Mr. Omar Masri | Member of the Board of Directors | 9,200 | |
| Mr. Alaa Sesalem | Member of the Board of Directors | 10,400 | |
| Birzeit Pharmaceutical Company represented by | |||
| Mr. Talal Nasir El Din | Vice Chairman of Board of Directors | 9,500 | |
| Razan Medical Center for Infertility & I.V.F represented by | |||
| Mr.Muhammad Abu Khaizran | Member of the Board of Directors | 9,400 | |
| Orphans Fund Management and Development Foundation represented by | |||
| Mr.Yahya Shunnar | Member of the Board of Directors | 4,900 | |
| Representative of minority shareholders | |||
| Dr. Majed El Helou | Member of the Board of Directors | 9,500 | |
| Independent members | |||
| Dr. Suhail Sultan | Member of the Board of Directors | 8,900 | |
| Mr. Ashraf Yassin | Member of the Board of Directors | 10,225 | |
| Mr. Abdul Hamid Al-Abouh | Member of the Board of Directors | 9,200 | |
| Mr. Salah Al-Daghma | Member of the Board of Directors | 9,500 | |
| Other | 5,459 | ||
| Total | 104,484 | ||
Two: Summary of Board Member bonuses for 2024 (in USD)
| Name | Position | 2023 Bonus | 2024 Bonus |
|---|---|---|---|
| National Islamic Investment Company represented by: | |||
| Mr Maher Masri | Chairman of Board of Directors | 32,633 | 28,710 |
| Mr. Omar Masri | Member of the Board of Directors | 20,075 | 19,719 |
| Mr. Alaa Sesalem | Member of the Board of Directors | 20,075 | 19,719 |
| Birzeit Pharmaceutical Company represented by: | |||
| Mr. Talal Nasir El Din | Vice Chairman of Board of Directors | 20,075 | 19,719 |
| Razan Medical Center for Infertility & I.V.F represented by: | |||
| Muhammad Abu Khaizran | Member of the Board of Directors | 20,075 | 19,719 |
| Orphans Fund Management and Development Foundation represented by: | |||
| Mr.Yahya Shunnar | Member of the Board of Directors | - | 18,819 |
| Representative of minority shareholders | |||
| Dr. Majed El Helou | Member of the Board of Directors | 35,452 | 19,719 |
| Independent members | |||
| Mr. Abdul Hamid Al-Abouh | Independent Member of the Board of Directors | 20,075 | 19,719 |
| Mr. Salah Al-Daghma | Independent Member of the Board of Directors | 20,075 | 19,719 |
| Dr. Sohail Sultan | Independent Member of the Board of Directors | 20,075 | 19,719 |
| Mr. Ashraf Yassin | Independent Member of the Board of Directors | 20,075 | 19,719 |
| Total | 220,000 | 225,000 | |
Third: Executive Management Salaries and Bonuses
Salaries granted to the Executive Management are awarded in accordance with the adopted salary scale and pursuant to Regulatory Instructions No. 2 on Grades, Salaries, and allowances. Bonuses are granted to the Executive Management pursuant to Regulatory Instructions No. 4.
Al-Sadi holds a PhD Degree in Islamic Economics from IZU University in Turkey, and a Master’s Degree in Financial and Banking Management from M.S. University in India, and a Bachelor’s Degree in accounting. He joined the banking sector in 1993, and held several senior positions at Palestine Islamic Bank; the first of which was the position of Regional Director of Branches, followed by the position of Assistant General Manager for Distribution Network. Starting early 2019, Al-Sadi assumed the role of Deputy General Manager. He is also a member of the Board of Directors for Takaful Insurance Company as a representative of PIB. During 2019, AL-Sadi was selected as a financial expert and a member of the Board of Directors of the Agricultural Credit Fund following a decree by the Palestinian Council of Ministers, and based on the recommendation of the Minister of Agriculture. During the same year, Al-Iqtisadi magazine selected him as one of the most influential figures in the Palestinian economy. In 2020, Al-Sadi became a member of the Sustainability Working Group of the General Council for Islamic Banks and Financial Institutions (CIBAFI), alongside a group of experts in Islamic economics and Islamic banking. Al-Sadi was previously a lecturer at the Arab American University, and as a banking expert and trainer at the Palestine Banking Institute.
Holding MA degree in Economics from Birzeit University and BA degree in Mathematical Economic from same UniversityMr.Erainat has started his career life at banking sector in 2000,as he held several managerial positions including but not limited to corporate credit operation manager,corporate credit monitoring manager,financial services manager, deputy of operations head. He worked as lecturer at Al-Quds University and Al-Quds Open University and has great experience in banking sector especially in managing banking operations, banking systems developments, and monitoring in banking financing. Mr. Irainat has joined Palestinian Islamic bank since beginning of July 2022.
Holding a Bachelor of Accounting from the Arab American University, Rami is a member of the British Association of Chartered Certified Accountants and various international, Arab, and local certified accountants’ associations. He has more than 15 years of experience in accounting, auditing, and consulting in banking, financial institutions, asset management, insurance, and communications. He is also a board member of Al Takaful Insurance where he serves as the Bank’s representative, and a member of the Ijara Auditing Committee. Before joining Palestine Islamic Bank, he held the position of Executive Manager at Ernst & Young. He is currently the Assistant General Manager for Financial and Administrative Affairs.
Mr. Shqair Holds a Master’s Degree in Business Administration (MBA) from Najah National University, and a Bachelor’s Degree in Finance from Bizet University. He joined the Islamic banking sector in 2000 and worked as PIB’s Nablus Bank Manager until 2013. He was the Central Operation’s Department Manager until 2020, and then he was appointed as Director of Middle District branches. He currently holds the position of Assistant General Manager for branches. Shqair has worked as a lecturer at Al-Quds Open University for 10 years. Additionally, he is a licensed arbitrator in financial and banking disputes; holding an arbitration license issued by the Ministry of Labor.
He holds a master’s degree in Business Administration from Bizet University, and a bachelor’s degree in Computer Engineering from An-Najah National University. He is currently the Assistant General Manager for Planning and Development, with more than 20 years of experience in the technical and administrative fields, product and software development, digitization, project management and process re-engineering, also he is a member of the Innovation and Technology Working Group of the General Council for Islamic Banks and Financial Institutions (CIBAFI).
Holder of a bachelor's degree in business administration from An-Najah National University in 1997, he began his career in the banking sector in 1997 at the Arab Bank in Palestine. He progressed in administrative positions until reaching the position of branch manager before joining the PIB family in 2017 where he worked as a branch manager for Qalqilya, and has extensive and diverse experience in various aspects of banking. He is currently the manager of the Northern Area at PIB.
Mr. Masaeed holds a master’s degree in business administration from Geneva Business- Switzerland University, and bachelor’s in accounting from An- Najah National University. Mr. Masaeed is currently Director of the Middle District; He has worked in international banks for19 years; his most recent position as Vice president was with First Abu Dhabi Bank in the United Arab Emirates. Mr. Masaeed also holds several international certificates in investment and Wealth Management such as CISI and CMP from an international institution.
He holds a bachelor's degree in the field of computer science and served as a financial and administrative manager in a number of private companies before joining the Cairo Amman Bank Islamic transactions branch in 1998. In 2009, he joined Palestine Islamic Bank, as the Branch Manager of the Bethlehem branch and then the Hebron branch. Mr. Nizar holds a number of specialized international certificates, including a certified Islamic finance officer certificate and CLBB certificate. He is a volunteer lecturer in the field of skills and human capabilities.
Master of Sustainable Development / Institution of Building and Human Development Bachelor's degree in Management and Entrepreneurship / Accounting
Engineering Management MSc Bachelor's degree in Computer Engineering
Master of Business Administration Bachelor's degree in Financial and Banking sciences
Master of Economics Bachelor's degree in Accounting
Bachelor's degree in Computer Engineering
Bachelor's degree in Computer Science
Master of Business Administration Bachelor's degree in accounting
Master of Business Administration Bachelor's degree in Accounting
Master of Business Administration and Information Systems Bachelor's degree in Business Administration and Information Systems
Bachelor's degree in Accounting
Master’s degree in strategic planning and fundraising Bachelor of Commerce
Bachelor of Banking and Finance
Master of Business Administration Bachelor's degree in Business Administration
Bachelor's degree in Mechanical Engineering
Master of Business Administration Bachelor's degree in Financial and Banking Sciences
Bachelor's degree in Computer Engineering
Bachelor in computer engineering
Bachelor in Banking and Finance
Bachelor in Law
Bachelor's Degree in Business Administration
As human capital is the most important capital of any institution seeking excellence and leadership in its field, Palestine Islamic Bank prioritizes the development of its staff. The bank focuses on attracting, retaining, and training staff and helping them to get qualifications in various fields. The Bank believes that attracting young talent forms the basis of growth and development in any successful institution.
The Bank aims to provide a working environment that allows its employees to express their creativity to help the Bank to achieve its main goals and fulfill its strategic values and plans for development, expansion and penetration. The Bank seeks to give its employees the opportunity to develop and create a balance between furthering their careers and the demands of their role. Opportunities for career development and training are identified as part of all employees’ annual performance evaluation.
The bank gives equal opportunities to female and male employees. During 2024, the number of female employees at the Bank was 198 out of 660 employees, many of them working in leading positions as decision makers, while others oversee some of the largest and most important programs and projects in the Bank.
As part of PIB’s commitment to developing skills to enhance its staff’s performance, it has provided them with the necessary training in their field of work, both internally and externally, on dozens of topics related to Islamic banking, financing transactions, financial analysis, remittances, treasury, financial and legal transactions, as well as anti-fraud and anti-money laundering, compliance and risk management, quality, governance and project management, emotional intelligence, sustainable development, artificial intelligence, digitization, cybersecurity, first aid, banking qualification, cross-selling, and other programs. A total of 2,430 bank employees participated in these trainings, 44% of whom are women.
40 employees got accredited in 2024 under the supervision of the Human Capital Department, bringing the total number of accredited professionals to 107. It is worth nothing that 71% of these certificates are related to Islamic banking.
PIB also offers training opportunities to university students, helping them meet their graduation requirements and enhance their practical skills alongside their academic achievements. A total of 81 students from universities across the country were trained at the bank's various locations in 2024.