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Palestinian Monetary decided to raise the banks' capital to $ 50 million

2010-01-28

Amman - Petra - Palestinian Monetary Authority has decided to raise the minimum capital of any banking institution operating business in Palestine to $ 50 million, and set the end of this year a maximum time limit for the implementation of the instructions. According to a senior bank source, some of Jordanian banks operating there are meeting the new conditions, while the remaining operating banks in Palestine have not progressed with official requests to raise the registered capital in Palestine. The source, who preferred anonymity said for (Petra) that the actions of raising the capital of Jordanian banks operating abroad requires them to address the Central Bank of Jordan to complete the process of raising capital. Eight Jordanian banks are operating in Palestine, 61 branches and 14 offices throughout the West Bank and Gaza Strip. The Jordanian banks operating in Palestine are the Arab Bank, The Housing Bank for trade and finance, Jordan Kuwait Bank, Jordan National Bank, Cairo Amman Bank, Bank of Jordan, Jordan commercial Bank and Union Bank. The PNA revealed its intentions to raise the minimum capital of banking institutions in the coming years to $ 100 million.