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Al-Rafah Microfinance Bank changes its name to The National Bank

2012-05-10

Al-Rafah Microfinance Bank has changed its name to ‘’ The National Bank TNB’’ in the extraordinary general assembly that was held in Ramallah and Gaza on 09/05/2012. The extraordinary general assembly also approved raising the bank’s capital to $40 million, by issuing 5 million shares subscribed by Palestine Telecommunications PALTEL and 5 million other shares subscribed by ‘’Massar International Company’’ versus $5 million shares to the bank of Massar’s stake in Palestine Mortgage & Housing Corporation PMHC, a step to raise the bank’s capital to $50 million according to Palestine Monetary Authority’s requirements.