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2007-08-16
The Bank of
Palestine Completes its Disclosure of Financial Statements for this Semi-Annual Period of 2007
The PSE received the stock report from the external legal auditor “Saba & Co.” for the first 6 months of 2007 for the BOP, to supplement its disclosure for this semi-annual period which was submitted to the market on 08-12-2007.The data has been immediately deployed upon receipt of data on the electronic market on the Internet at www.p-s-e.com .It has also been distributed to securities member firms in order for clients to be informed. The bank noted in the book attached to the report that the data previously received has not been ratified by the Palestinian Monetary Authority to date. The legal auditor reported the basis for review ,except as may have on the results of the bank of the impact contained in the second paragraph of the “scope of the audit” , it did not grow to learn reason to believe that the financial interim information the standard doesn’t appear fairly, in all material respects ,the financial position of the Bank of Palestine, as in 06-30-2007, its financial performance and cash flows for the six months ended on that date in accordance with international standards of financial reporting. He noted that in addition to the checker as contained in the clarification (No. 8), requires the mainstream Palestinian Monetary Authority No. 93 that the composition of allocations for bad debts and bad. The bank"s management that this circular does not apply to a loan portfolio of public sector employees and total assets amount of 135,373,732 dollars, as in 06-30-2007, and it did not privatization, according to note that it had suspended the full benefits owed to those stocks those benefits have reached the outstanding amount of 10,300,000 dollars until June 30 to hedge that examines the bank"s management is currently with the Palestinian Monetary Authority mechanisms to deal with that generalization.
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