The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has granted an In-Principle Approval (IPA) to Bank of Palestine to obtain a Category 1 (CAT1) License.
The license will allow the bank to accept deposits and arrange investment deals targeting the global Palestinian community.
Once fully operational in the second half of 2026, this license will allow the bank to operate globally from ADGM, further strengthening its proposition and diversifying its operations.
Bank of Palestine Group is the foremost financial institution in Palestine across all operating indicators, with deep expertise in SME financing, financial innovation, and banking under challenging conditions.
Bank strengthens regional presence
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.
Hashim Shawa, Chairman of Bank of Palestine Group, commented: “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.”
Linda Tarazi has been appointed CEO of Bank of Palestine – Global, the ADGM entity. She brings over two decades of international banking experience and will lead its global expansion.
Arvind Ramamurthy, Chief Market Development Officer at ADGM, said: “We are pleased to welcome Bank of Palestine. Their decision to choose Abu Dhabi as a global launchpad reinforces ADGM’s position as a trusted and well-regulated leading international financial centre in the MENA region.
“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 enjoys strategic partnerships with leading Development Finance Institutions (DFIs), leveraging diverse financial tools to strengthen the real economy in Palestine. It has earned global recognition for financial, digital, and gender inclusion, and maintains 50 per cent gender balance at the Board level and 45 per cent across its workforce.
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