Bank of Palestine: Expanding Horizons with an ADGM Full Banking License
The Bank of Palestine (BOP), a leading financial institution in Palestine, has recently taken a significant leap forward in its expansion efforts. The Financial Services Regulatory Authority (FSRA) at Abu Dhabi Global Market (ADGM), a top-tier international financial centre in Abu Dhabi, United Arab Emirates (UAE), has granted the bank an in-principle approval (IPA) for a full banking license. This milestone was announced in a press release published on Zawya.
BOP: A New Era of Financial Services
With the Category 1 (CAT1) license, BOP will be authorised to conduct regulated activities such as accepting deposits and arranging investment deals. The bank will predominantly focus on serving the global Palestinian community. The bank is expected to become fully operational with these expanded services in the second half of 2026.
Experienced Leadership for Global Expansion
The bank has appointed Linda Tarazi as the CEO of the ADGM entity, Bank of Palestine – global. Tarazi brings with her over two decades of international banking experience, a valuable asset for the bank’s ambitious global expansion.
Building on a Strong Regional Presence
BOP has maintained a strong presence in the region since its inception. The bank has had a representative office at the Dubai International Financial Centre (DIFC) since 2015. Recently, it expanded its regional footprint by setting up a representative office in Cairo to serve its clientele in Egypt.
Strategic Collaborations for Sustainable Growth
Additionally, the bank has forged strategic partnerships with development finance institutions. It utilises a diverse array of financial instruments to support the real economy in Palestine. These partnerships and collaborations underscore the bank’s commitment to sustainable growth and economic development in the region.
A Historic Milestone for BOP
BOP Group chairman Hashim Shawa hailed the approval as a historic milestone for the bank. He stated, “This is a historic milestone for Bank of Palestine, ushering in a new era of global reach, digital excellence, and future-proof banking and wealth management. As we mark 65 years since our founding in 1960, operating from Abu Dhabi, one of the world’s most dynamic international financial hubs, reflects our ambition to serve our people and partners across the globe, building on a legacy of resilience and innovation.”
With this expansion, BOP continues to build on its legacy of resilience and innovation, reinforcing its position as the largest financial institution in Palestine. Its new license from the FSRA at ADGM marks a significant step forward in the bank’s global expansion strategy and its commitment to serving the Palestinian community worldwide.
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