Bank of Palestine has marked its first foray into overseas markets by opening a representative office in Dubai International Financial Centre (DIFC).
The new office, which is the first Palestinian corporation in DIFC, will provide financial, investment and advisory services to the Palestinian diaspora in the Gulf region and beyond.
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Bank of Palestine chairman and general manager said: "Our new office in the UAE will promote our banking services and serve as an economic bridge that connects 250,000 Palestinian expats in the UAE to their homeland.
"At a later stage, we also aim to target Palestinians working in the wider Gulf area to leverage their expertise and capabilities."
Palestinian Monetary Authority governor added: "The move is a major stepping stone for the Palestinian banking system, enhancing the status of Palestine in the Arab region and the world at large. This strategic expansion of our banks outside Palestine will help attract investments into Palestine."
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