PIB and the Palestinian Banking Corporation sign a cooperation agreement

The Palestine Islamic Bank (PIB) and the Palestinian Banking Corporation signed a joint cooperation agreement.

The agreement was signed by the General Manager of PIB, Dr. Imad Al-Sadi and the authorized Chairman of the Management Committee of the Palestinian Banking Corporation, Mr. Ali Faroun, in the presence of the Bank's Executive Management and the Banking Corporation Management Committee, at the Bank’s head office in Ramallah.

Al-Sadi said that signing this agreement with the PBC is consistent with the bank’s keenness to enhance cooperation and joint work with various financial and banking institutions in Palestine, especially those operating in the Islamic banking and finance sector. The objective of this cooperation is to contribute to raising the quality of Islamic financial services provided to the Palestinian public.

Al-Sadi stressed that the Islamic financial sector is a promising one and is witnessing an increasing demand in recent years due to developments in the nature of services provided by its institutions.

Al-Sadi added: "Islamic financial institutions today provide advanced services and meet the changing needs of the public. They are no longer limited to providing services in traditional ways, especially in the era of digital transformation."

For his part, Mr. Ali Faroun said that signing the agreement with PIB is part of the Banking Corporation’s efforts to build a strategic relationship aimed at facilitating contractual relations with its clients and benefiting from the bank’s expertise in developing Islamic products to finance productive projects and build a real partnership in light of the acceleration and development of the banking industry. This is most important in light of the general trend to enhance digital and electronic services and find appropriate banking solutions that meet the needs of target groups in the community.