Bank of Palestine (BOP) has secured an in-principle approval (IPA) for a full banking licence from the Financial Services Regulatory Authority (FSRA) at ADGM, the international financial centre in Abu Dhabi, United Arab Emirates (UAE), according to a press release posted on Zawya.
With this Category 1 (CAT1) licence, BOP will be permitted to carry out regulated activities such as accepting deposits and arranging investment deals, with a focus on serving the global Palestinian community.
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BOP is expected to become fully operational in the second half of 2026.
The bank has appointed Linda Tarazi, who has over 20 years of international banking experience, as CEO of the ADGM entity, Bank of Palestine – global.
BOP is said to be the largest financial institution in Palestine.
The bank has maintained a representative office at Dubai International Financial Centre (DIFC) since 2015 and has recently expanded its regional presence by launching a representative office in Cairo to serve clients in Egypt.
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By GlobalDataThe bank also has strategic collaborations with development finance institutions, utilising various financial instruments to support Palestine’s real economy.
BOP Group chairman Hashim Shawa 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.
“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.”
