Palestine Bank Sets Off for Global Expansion After Obtaining Preliminary Approval for a Comprehensive Banking License from Abu Dhabi Global Market (ADGM)

SadaNews - Palestine Bank announced that it has received preliminary approval from the Financial Services Regulatory Authority in Abu Dhabi Global Market (ADGM), the international financial center of the Emirati capital, Abu Dhabi, to obtain a Category 1 license (Category 1 – CAT1). This will enable it to operate a full-service banking branch that includes engaging in regulated and supervised banking and financial activities in Abu Dhabi Global Market (ADGM), particularly accepting deposits and executing investment transactions, targeting the Palestinian community worldwide.

With Palestine Bank obtaining this license, which is expected to be fully effective in the second half of 2026, the bank will be able to operate and offer its services globally from Abu Dhabi Global Market (ADGM). This will enhance its capacity to showcase its outstanding services and financial solutions and diversify its operations through seamless digital banking services.

Mr. Hashim Al-Shawa, Chairman of the Board of Directors of Palestine Bank Group, expressed pride in this strategic step, affirming: "This is a historic achievement for our group, as we embark on a new era of global presence, digital excellence, wealth management, and banking services." Al-Shawa added, "As we celebrate 65 years since our establishment in 1960, the launch of our operations from Abu Dhabi, one of the world's most vibrant international financial centers, reflects our ambition to serve our people and partners worldwide, building on a rich heritage of resilience and innovation."

Ms. Linda Terzi has been appointed as the CEO of Palestine Bank - Global Limited at Abu Dhabi Global Market (ADGM). Terzi will contribute from her position in Abu Dhabi to leading the global expansion of the bank. The bank selected Terzi due to its confidence in her ability to lead this mission, given her extensive experience in international banking for more than two decades.

Through this step, the Palestine Bank Group will enjoy supportive advantages that enable it to expand, thanks to Abu Dhabi's ideal environment filled with trust and innovation, along with the close regulatory oversight necessary to proceed with global expansion.

Regarding Palestine Bank's joining of Abu Dhabi Global Market (ADGM), Arvind Ramamurthy, Head of Markets at ADGM, said: "We are pleased to welcome Palestine Bank to Abu Dhabi Global Market. Their decision to choose Abu Dhabi as a global launch point enhances ADGM's position as a leading, reliable, and well-regulated international financial center in the MENA region. The dynamic nurturing environment in ADGM provides a diverse community of global banks, asset managers, fintech innovators, and professional service providers, all operating within a strong regulatory framework that meets international standards. Additionally, Palestine Bank's long experience and rich history will further enrich this ecosystem for global financial institutions."

Palestine Bank Group is the leading financial institution in Palestine across all performance indicators, with deep expertise in funding small and medium enterprises, financial innovation, and banking under difficult circumstances and challenges.

Palestine Bank has been present in the UAE since 2015, continuing to provide banking services through its representative office at the Dubai International Financial Centre. The bank has recently expanded its regional presence by opening a representative office in Cairo to serve its growing customer base in Egypt.

Palestine Bank also enjoys strategic partnerships with leading development finance institutions, enabling it to benefit from various financial tools to enhance the real economy in Palestine. The bank has received global recognition for its efforts in financial inclusion, digital transformation, and gender equity, maintaining 50% female representation within the institution at the board level and 45% across various departments, reflecting its commitment to environmental, social, and corporate governance (ESG) principles alongside the United Nations Sustainable Development Goals.