The Bank of Palestine has received In-Principle Approval from the Financial Services Regulatory Authority of Abu Dhabi Global Market, marking a significant milestone in the bank’s international expansion strategy and a strong vote of confidence from one of the region’s leading financial jurisdictions.
Implications for the Bank, Investment, and Consumers
The approval allows the Bank of Palestine to move forward with obtaining a Category 1 (CAT1) license, enabling it to conduct regulated financial activities from ADGM, including deposit-taking and investment arrangement services.
The expansion is expected to enhance access to banking, credit, and investment solutions for Palestinian individuals, businesses, and the wider diaspora.
Hashim Shawa, Chairman of the Bank of Palestine Group said:
“As we mark 65 years since our founding in 1960, establishing operations in Abu Dhabi reflects our ambition to serve our people and partners globally, while operating within a robust and internationally recognized regulatory framework.”
Leadership Appointment
Linda Tarazi has been appointed Chief Executive Officer of the Bank of Palestine’s ADGM entity, where she will lead the bank’s regional and international growth initiatives and oversee its strategic development from Abu Dhabi.
The ADGM expansion builds on the bank’s recent regional momentum, following the opening of a Representative Office in Cairo, established to support its expanding client base in Egypt and strengthen cross-border banking relationships.
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