Governor of Palestine Monetary Authority Inaugurates Safa Bank Branch in Jenin

Monday – February 25, 2019 – His Excellency Mr. Azzam Shawwa, the Governor of Palestine Monetary Authority, inaugurated today, Safa Bank branch in Jenin. Governor of Jenin District Major General Akram Al-Rjoob, Chairman of the Board of Directors of Safa Bank Mr. Yazeed Al-Mufti, General Manager of Safa Bank Mr. Nidal Al-Barghouthi, the Mufti of Jenin Governorate Sheikh Mohammad Abu Al-Rab and bankers and economists and heads of security apparatuses attended the inauguration.
Mr. Shawwa said in his remarks that he was pleased to join Safa Bank in the inauguration of its branch in Jenin, the city we all loved. Mr. Shawwa said he was confident that the new branch will have positive impact and ensure more achievements in banking business as a whole, especially Islamic banking in Palestine and would serve the people and enhance financial inclusion.
We are proud of the banking sector for its resilience in facing political and economic challenges, said Mr. Shawwa. The net assets of the banking sector reached more than $15.6 billion. The net assets of Islamic banks reached more than $2.3 billion.
The total number of bank branches in Palestine was 351 at the end of last year, including 11 in Jenin Governorate and the number of Islamic banks’ branches reached 71 across Palestine, including 6 in Jenin Governorate, said Mr. Shawwa.

Mr. Shawwa added that the clients’ deposits totaled more than $12.22 billion including more than $819 million in Jenin Governorate. Clients’ deposits at Islamic banks totaled approximately $1.84 billion including $144 million in Jericho Governorate.
Overall direct facilities reached more than $8.4 billion including $367 million in Jenin Governorate. Direct facilities at Islamic banks reached approximately $1.48 billion, including $83 million for Jenin Governorate.
Mr. Shawwa said electronic clearance would be launched in April this year. It would allow check collection within two working days in phase one and in one working day at later phase. Mr. Shawwa thanked the management and staff at the Safa Bank for the continuous development of the bank and for improving banking services delivered to people.

Categories: Banks, PMA