Company Lookup
عربي
Download Demo
 

Market News

This Month News

This Month News

send to a friend by email

Al Wazir: foreign banks looking to open branches in the Palestinian territories

2012-01-18

The Governor of the Palestinian Monetary Authority (PMA) Dr. Jihad Al-Wazir, said yesterday that a number of foreign banks have earlier this year began communicating with the PMA for opening of branches in the Palestinian territories, without disclosing the nationalities of those banks. Al Wazir added, "There is a conversation between us and some foreign banks that have expressed an aim to open branches in Palestine, and asked us for data on banks’ status, the economy in addition to laws and regulations in force in the Palestinian banking system. These have been sent to them two weeks ago." He said: “We hope that we succeed in attracting a number of these banks in order to add a qualitative value for banks operating in Palestine”.

Currently, 18 banks operate in the Palestinian territories, of which eight are Palestinian banks and eight are Jordanian in addition to one Egyptian bank and another British. These banks own number of branches in the West Bank and Gaza Strip.

He explained: "Based on the instructions of the Monetary Authority regarding the minimum capital for a bank of $ 50 million; the year 2011 has witnessed signing of several memorandums of understanding on merging between local banks and other non-local that are supposed to take place during the first half of this year." Al Wazir said that prospective mergers in the banking sector will lead to reducing the number of banks in the Palestinian territories to 16 banks. He said: "It is expected that with the completion of the mergers, the number of banks will be reduced to 16 with reference to the year 2010 that witnessed the liquidation of two banks which are Al-Aqsa and Palestine International Bank. These actions come within the framework of the restructuring of the Palestinian banking system."

He continued: "The Palestinian banking system is one of the best banking systems in the region, with a good growth and size of revenue. These banks operate in a coherent environment despite the political situation, and apply international standards. The banking system"s liquidity is good because the banks are conservative in granting facilities because of political risk.” 

 

 

 


 

2017-04-26
UCI reports net income of $0.18 million in Q1 2017

2017-04-25
PSE realizes net loss of $0.27 million in Q1 2017

2017-04-25
JREI realizes net loss of $0.07 million in Q1 2017

2017-04-25
AIB reports net income of $1.55 million in Q1 2017

2017-04-25
BJP posts net income of JD0.89 million in Q1 2017

2017-04-25
WATANIYA realizes net loss of $1.12 million in Q1 2017

2017-04-25
NAPCO records net income of JD0.13 million in Q1 2017

2017-04-25
APIC approves distributing 6.06% stock dividends and 6% cash dividends for 2016

2017-04-25
APIC records net income of $3.57 million in Q1 2017

2017-04-23
PEC records net income of $3.60 million in Q1 2017

2017-04-23
TNB approves distributing 5% cash dividends for the year 2016

2017-04-23
Bravo realizes net loss of JD0.13 million in Q1 2017

2017-04-20
Medium liquidity in the quarterly disclosures and dividends distribution seasons

2017-04-20
PEC approves distributing 10% cash dividends for the year 2016

2017-04-19
TNB records net income of $2.77 million in Q1 2017

2017-04-18
BPC approves distributing 20% cash dividends for the year 2016

2017-04-18
VOIC records net income of JD1.07 million for Q1 2017

2017-04-13
Al-Quds Index declines amid anticipation elements’ overlapping

2017-04-13
TRUST approves distributing 15% cash dividends for the year 2016

2017-04-12
JPH proposes 10% cash dividends for the year 2016

2017-04-11
APC records net income of JD0.33 million in Q1 2017

2017-04-11
PIBC proposes 2.35% stocks dividends for the year 2016

2017-04-11
NSC recommends 10% cash dividends for the year 2016

2017-04-11
GUI approves distributing 10% cash dividends for the year 2016

2017-04-10
3G services in 6 months in the West Bank

2017-04-10
BOP approves distributing 2.56% stocks dividends and 10.44% cash dividends for the year 2016

2017-04-10
QUDS proposes distributing 12% stocks dividends for the year 2016

2017-04-06
Dividends approval momentum and a final agreement to run 3G frequencies in the Palestinian markets

2017-04-06
PALTEL approves distributing 40% cash dividends for the year 2016

2017-04-04
PADICO proposes distributing 5% cash dividends for the year 2016

2017-04-03
AIB approves raising its capital to $75 million and distributing 12% cash dividends for the year 2016

2017-04-02
NIC approves 20% cash dividends for the year 2016.

2017-04-02
ISBK approves raising its capital to $69 million and distributing 8.50% cash dividends for the year 2016.

 

 

 
Sahem Trading & Investments Company - PEX Member and licensed by PCMA
© All Rights Reserved 2013