A New Board of Directors Elected: The Islamic Bank of Palestine Holds its Annual General Meeting

Sada News - The Islamic Bank of Palestine held its annual general meeting for the year 2025 at the bank's headquarters in Ramallah, during which a new board of directors was elected for the upcoming term.

The meeting was attended by the Chairman of the Board, Maher Al-Masri, members of the board, General Manager Dr. Imad Al-Saadi, the executive management, the Shari'ah Supervisory Board, representatives from the Companies Controller, the Palestinian Monetary Authority, the Capital Market Authority, the Palestine Stock Exchange, the external auditor, the legal advisor, along with shareholders from the bank.

During the meeting, the shareholders discussed the board’s report on the company's operations for the financial year ending on 31/12/2025 and approved it. They also heard the external auditor's report and endorsed the financial statements, in addition to listening to the Shari'ah Supervisory Board's report and discussing the bank's future plans.

The shareholders also approved the bank's operational results for the year 2025, elected Ernst & Young to audit the company's accounts for the financial year 2026, and authorized the board of directors to determine its fees.

During the meeting, a new board of directors was elected, consisting of 11 members, including three members from the National Islamic Investment Company, one member from the Palestinian Pension Authority, one member from the Rosean Specialty Medical Center, one member from Birzeit Pharmaceuticals, Mr. Salah Al-Daghmeh representing himself, one member representing minor shareholders, and three independent members.

The new board of directors held its first session, renewing its confidence in Mr. Maher Al-Masri as its chairman and Mr. Talal Nasser Al-Din as vice chairman, and established all committees emanating from the board.

Al-Masri stated that 2025 was filled with challenges and escalating difficulties; however, the bank recorded numerous achievements at the operational level and managed to achieve growth in most of its financial indicators, strengthening its financial base by raising its capital by $6 million, reflecting the robustness and stability of its financial position.

He added: "These results were achieved due to the solid planning adopted by the board of directors and its follow-up on the bank's operations through its various committees, in cooperation and coordination with the executive management, which exerted significant and continuous efforts to achieve these results, under the supervision of the Shari'ah Supervisory Board, which has spared no effort in ensuring compliance with Shari'ah rules and aligning modern products with Islamic banking principles while raising public awareness about them."

Al-Masri indicated that the bank continued during 2025 to hedge against potential losses and accounted for provisions that aligned with the growing challenges. It also continued to provide services to clients in the Gaza Strip through its Gaza and Deir al-Balah branches, leveraging a distinguished workforce committed to serving clients under available conditions. At the same time, he emphasized that constant cooperation and coordination with the Monetary Authority significantly contributed to finding suitable solutions in difficult times and overcoming them.

Additionally, Al-Masri stated: "Throughout 2025, the bank continued to develop its Islamic banking services and products and enhance local and international partnerships in this field, in addition to improving digital channels and electronic payment solutions, aligning with the bank's digital transformation strategy, under which dozens of advanced internal systems were launched alongside enhancing cybersecurity measures. As a result of these achievements, we rank second in the banking sector in digital transformation and electronic services according to the assessment of the Monetary Authority in this area."

Al-Masri pointed out that these achievements coincided with the bank's reinforcement of its contributions in the field of sustainable social responsibility, especially in health, education, and relief sectors, including the establishment of a school in Gaza in partnership with the Ministry of Education and Higher Education, and an agreement to cover the education costs for 200 students in Gaza in collaboration with the SOS Children's Villages in Palestine. He also mentioned that the bank launched its first sustainability report in 2025, emphasizing its commitment to applying sustainability standards (ESG), asserting that this report is a pivotal step in the institutional development journey and a fundamental pillar for achieving balanced and sustainable growth.

The message and vision of the Islamic Bank of Palestine focus on excellence in providing modern and secure banking and investment solutions in accordance with Islamic law. The bank also has a well-thought-out strategy for advancing its digital transformation process, supported by a cybersecurity strategy that ensures the protection of all client data, resulting in the launch of pioneering digital services.