Staff Writer
Bank of Palestine has received an in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of ADGM to conduct regulated activities in or from ADGM.
The lender will accept deposits and arrange deals in investments, targeting the global Palestinian community at large, according to a press release.
Once fully operational in the second half (H2) of 2026, this license will allow the bank to operate globally from ADGM, reinforcing its proposition and diversifying its operations, leveraging seamless digital banking services.
Hashim Shawa, Chairman of Bank of Palestine Group, said: “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.”
Linda Tarazi, who brings over two decades of international banking experience, has been appointed as the CEO of the ADGM entity, where she will lead the bank’s global expansion.
Arvind Ramamurthy, Chief Market Development Officer at ADGM, commented: “ADGM’s dynamic ecosystem brings together a diverse community of global banks, asset managers, fintech innovators, and professional service providers, all operating within a robust regulatory framework aligned with international standards. BOP’s long-standing history and expertise will further enrich this ecosystem of global financial entities.”
Bank of Palestine is the foremost financial institution in Palestine across all operating indicators, with deep expertise in SME financing, financial innovation, and banking under challenging conditions.
The bank has maintained a presence in the UAE since 2015 through its DIFC Representative Office in Dubai and recently expanded its regional footprint by opening a representative office in Cairo to serve its growing client base in Egypt.
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