PIB Announces Start of Secondary Public Offering to Increase Capital
Palestine Islamic Bank (PIB) has announced the launch of a secondary public offering to increase its capital from USD 100 million to USD 106 million. As part of this process, 6 million shares have been offered for subscription at a price of USD 1 per share. The subscription period will continue until July 17, 2025.
Dr. Imad Al-Sadi, General Manager of PIB, stated that this offering comes in line with the decision of the Bank’s General Assembly to increase capital. It will strengthen the bank’s financial position and provide financial flexibility, enhancing the bank’s ability to face challenges effectively by maintaining a suitable capital adequacy ratio in accordance with applicable regulations. He added that this offering is also aligned with the bank’s development plans, particularly in the area of digital transformation.
Al-Sadi added, “The capital increase goes hand in hand with the bank’s continuous progress in enhancing its products and digital channels—advancements that have empowered customers to access fast, convenient banking services anytime, anywhere.” He emphasized that these achievements are the result of strategic, well-structured planning by the Board of Directors, seamless execution by the executive management, and close collaboration across all administrative levels, under the guidance of the Sharia Supervisory Board.
Shareholders of PIB may subscribe for 6% of their owned shares by visiting one of the bank’s branches and filling out the required forms. Shareholders residing outside Palestine can subscribe by filling out the subscription form available on the bank’s official website www.islamicbank.ps and sending it, along with all required attachments, via email to ir@islamicbank.ps or by fax to 0097022979787.
The mission and vision of Palestine Islamic Bank is centered on excellence in providing modern and secure banking and investment solutions in accordance with Islamic Sharia principles. The bank has a well-structured strategy to move forward with digital transformation, supported by a cybersecurity strategy that ensures the protection of all customer data, resulting in the launch of pioneering digital services.