Bank of Palestine celebrated the opening of Nablus Branch with the presence of Dr. Jihad Al Wazier, Governor of the Palestine Monetary Authority, Mr. Kamal Hassouna, Minister of The National Economy, Dr. Jamal Al-Muhaisen, Governor of Nablus, and Mr. Hashim Shawa, Chairman and General Manager of BOP along with a large number of business people and bankers.

 

During the opening ceremony Dr. Jihad al-Wazir, Governor of Palestine Monetary Authority, stressed the stability of the Palestinian banking system despite the global financial crisis.

 

Mr. Shawa pointed to the contributions of Bank of Palestine in advancing the development and providing the best banking services to the customers through its 34 branches and offices. He also added that BOP is planning to open 15 branches and sub-branches in the next two years. BoP has recently opened a new branch in Abu Dis, a new office in Turmosa’ya and will soon open new branches and sub-branches in Birzeit, Silwad, Hawara, Meithalun, Yabad, and Tarqumia.

 

Mr. Shawa pointed out that the global economic crisis hit the worldwide banking sector causing an international destabilization of the economy. He said ‘unsecured lending, inadequate risk management policies and applications have caused this crisis. This induced most central banks to reduce interest rates providing liquidity in the markets. Nevertheless, Bank of Palestine has not been materially affected, and its business has continued steadily with an increase in both profits and assets. Our wise investment and risk management policies are the keys to our success and our ability to face this turmoil’.