Under the patronage of the Governor of Palestine Monetary Authority ... Palestine Islamic Bank Opens an Office in Halhul

Under the patronage of HE Mr. Azzam Shawwa, Governor of Palestine Monetary Authority (PMA), Palestine Islamic Bank opened an office in Halhul, north of Hebron.

The opening ceremony was attended by Dr. Riyyad Abu Shihadeh, PMA Deputy Governor, Mr. Rafiq Al-Ja'abari, Assistant Governor of Hebron Governorate, Mr. Nour-Eddin Jaradat, Chairman of the Chamber of Commerce and Industry of North Hebron, Mr. Hijazi Maraab, Mayor of Halhoul, and a number of legal personalities and businessmen in the Governorate. The Bank attendees included Mr. Bayan Qasem PIB General Manager, Mr. Imad Al Sadi, Deputy General Manager, Mr. Assem Al-Masri, Assistant General Manager of Planning and Development, Dr. Hussam El-Din Affana, member of the Shari'a Supervisory Board at the Bank, Mr. Nizar Bali, Director of the South District and a number of departmental and branch managers.

The opening ceremony, which was held at Qaser Al-Diyafeh in Halhul, was preceded by the ribbon cutting ceremony and a tour of the office; during which, the attendees had the chance to view the office and learn about the preparations made in order to make such a thing possible. They were highly impressed with the level of efforts exerted and possibilities in which the office had to offer.

Bayan Qasem, PIB General Manager, took the opportunity to welcome the attendees, while praising the exceptional relationship between the Bank and between the various national institutions of Palestine.

Qasem said: “We are keen on making our presence prominent in the various districts so as to provide Sharia-compliant banking services to the public in accordance with the best international practices”. He also added that the Bank's presence in Halhul, in its eighth branch in Hebron, stems from the Bank's interest in this governorate, which enjoys great economic importance.

Moreover, Qasem emphasized the Bank's approach towards digitization intended to ensure that clients receive banking services in a fast, efficient and secure manner. He further indicated the Bank's modernization and development of its banking system, which was put in place for the purposes of providing effectual services to the public via several E-services and social networks such as: “Islamic Online”, “Islamic Mobile” and “Islamic Auto”.

Qasem further emphasized that the Bank’s role is not only limited to providing banking services to the public, saying that: “We have a forceful commitment towards our community, whereas, through our Social Responsibility Program, we continually strive to provide the necessary support to all vital sectors such as the health and education sectors”; deeming such a commitment a national and moral duty.

Additionally, Qasem thanked the PMA, represented by HE Governor Azzam Shawwa, and all the working staff who never cease to exert their utmost efforts towards developing the banking sector, he also expressed his gratitude to the Chamber of Industry and Commerce, North Hebron, and to the governorate’s local authorities for their support and facilitations provided for opening Halhul Office.

For his part, PMA Deputy Governor, Dr. Riyyad Shihadeh expressed his delight for the opening of a banking office in Halhul, Hebron governorate; indicating that the opening of Halhul office, within a series of offices having been opened across the nation by PIB recently, reflects PIB’s successful activities, development and rapid spreading throughout Palestine.

The Deputy Governor further stressed the consistency of the Bank's branching policy with the strategy of the Monetary Authority in the delivery of banking services to all Palestinian areas. He also stressed the efforts of the banking system in Palestine, in this context, through its qualitative initiatives in branching in Al-Quds Al-Sharif and in marginalized areas including some Refugee Camps outside Palestine, including Jordan, Chile, Dubai and Bahrain.

PMA Deputy Governor further added that PIB is one of the pioneering banks in Islamic banking in Palestine; made clear through their contributions in developing the work of Islamic banking and through their role in social responsibility.

Moreover, he indicated that the net assets of Islamic banks amounted to more than $ 2.5 billion of the total assets of all banks operating in Palestine, which amount to more than $ 16 billion; whereas client deposits in Islamic banks amounted to more than $2 billion of total client deposits at $12.5 billion; and direct facilities of Islamic banks amounted to approximately $1.6 billion of the total direct facilities of more than $8.9 billion by the end of June 2019. However, client deposits in banks located in Hebron amounted to more than $1.1 billion, of which $293.8 are deposited in Islamic banks.

Additionally, Mr. Rafiq Al-Ja'abari, Assistant Governor of Hebron Governorate, ensured that the integration of roles between economic, community and other institutions will necessarily result in a strong country capable of confronting various challenges; while praising the performance of PIB and its social contributions.

However, Mr. Nour-Eddin Jaradat, Chairman of the Chamber of Commerce and Industry of North Hebron, pronounced the importance of PIB’s presence in Halhul in that it will encourage the public to invest their savings and thus strengthen the national economy, which is one of the important foundations on the road to building an independent state; while pointing out that the financing tools provided by banks is considered an important inducement in the movement of trade and industry.

For his part, Mr. Hijazi Maraab, Mayor of Halhul, expressed his delight for the presence of PIB in Halhul, stressing that this will encourage investment, increase employment opportunities and strengthen the local economy given the vital role taken-on by banks in the economy.

In his speech, Mr. Hussam El-Din Affana, member of PIB Islamic Shari'a Supervisory Board, said: “The Board responds to the needs of the community and offers banking solutions that meet the needs of the public and at the same time comply with Shari'a standards”; stressing the Board's keenness to ensure the bank's compliance with Shari'a standards in its dealings, in order to ensure the funds of depositors and investors, and to ensure that clients receive finances compatible with the provisions and principles of Islamic Sharia.