Bank of Palestine

Bank of Palestine is a Palestinian banking organization founded in Gaza City in 1960. It was established by Hasheem Atta Shawa as an agricultural bank intended to support farmers and the citrus trade, an important economic activity for his family and the wider Gaza economy at the time. Its early lending supported the purchase of agricultural equipment and helped establish the institution as a locally rooted source of finance for individuals and businesses. The bank later expanded beyond its original agricultural purpose into a broad commercial banking institution serving households, companies, entrepreneurs, and public or community organizations. Its activities include conventional banking services, deposit-taking, lending, payments, branch banking, and other financial services associated with a full-service bank. The institution describes itself as one of the leading financial institutions in Palestine and has developed one of the territory's most extensive banking networks. The Shawa family has remained closely associated with the bank's leadership. Hani Shawa assumed responsibility for running the institution in the early 1990s. After his father's death in 2007, Hashim Shawa, then aged 31, became chairman and chief executive. Under his leadership, the bank continued to operate as a major Palestinian financial institution. Reference material describes a workforce of approximately 1,980 employees and a customer base exceeding 900,000, although the applicable reporting date for those figures is not specified here. Bank of Palestine's domestic footprint includes branches and sub-branches distributed across Palestine. Reference material identifies 74 branches and sub-branches, making it the country's most geographically distributed banking corporation. The bank also has representative offices in Dubai in the United Arab Emirates and Santiago in Chile, giving it a limited international presence alongside its predominantly Palestinian operating base. The institution has also participated in social and educational initiatives. In 2016 it launched the NAHJ Project to support school entrepreneurship in Jerusalem schools, linking its community role with financial education and youth enterprise. The bank has faced legal and security-related challenges. In 2019, plaintiffs in Singer v. Bank of Palestine alleged that the bank had assisted Hamas through financial services and account maintenance. The bank rejected the claims and said that there was no legal basis for them, while stating that it was taking prompt and strong measures to seek dismissal. During the Gaza war in 2024, armed groups reportedly robbed several Bank of Palestine facilities in Gaza, with reported losses of approximately €66 million, or about $70 million, according to reporting cited in the reference material. These incidents highlighted the operational and security risks faced by financial institutions working in a conflict environment.

Bank of Palestine was established in Gaza City in 1960 by Hasheem Atta Shawa. Its original purpose was closely connected to agriculture: the institution was created as an agricultural bank to help farmers develop the citrus business, a sector in which the founder's family was also involved. Early lending supported farmers' purchases of equipment and provided a local financial mechanism for agricultural investment. Over time, the bank moved beyond its founding agricultural mandate and developed into a broad Palestinian banking institution. Its business came to encompass services for individuals, companies, and other organizations, including deposit accounts, lending, payments, and commercial banking. This expansion reflected the need for a locally based financial institution capable of serving both household banking requirements and the working-capital and investment needs of Palestinian businesses. The Shawa family remained central to the bank's management. Hani Shawa took over the running of the institution in the early 1990s. Following his father's death in 2007, Hashim Shawa became chairman and chief executive at the age of 31. The bank subsequently continued its development as one of Palestine's principal financial institutions. Reference material associates the later institution with approximately 1,980 employees and more than 900,000 customers, though no reporting date is specified for those figures. Bank of Palestine established a substantial physical network throughout Palestine. The reference material identifies 74 branches and sub-branches and describes the bank as the most geographically distributed banking corporation in Palestine. Its head office is in Ramallah in the West Bank. It also maintains representative offices in Dubai and Santiago, extending its institutional reach outside Palestine while retaining a primarily Palestinian operating focus. The bank's public role has included initiatives beyond ordinary financial intermediation. In 2016 it launched the NAHJ Project, which supported entrepreneurship among students in Jerusalem schools. The program connected the bank's community activity with youth enterprise and financial capability. Its history has also been shaped by legal and security pressures. In 2019, an amended United States lawsuit, Singer v. Bank of Palestine, accused the bank of assisting Hamas by providing financial services and maintaining accounts. Bank of Palestine denied that the plaintiffs had a valid legal basis and said it was taking strong and prompt steps to seek dismissal. The allegations should be distinguished from a judicial finding of wrongdoing. In 2024, during the Gaza war, armed groups reportedly carried out a sequence of robberies at Bank of Palestine facilities in Gaza. Reports cited in the reference material described cash losses of approximately €66 million. One incident involved money taken from a vault after an initial break-in and the use of explosives to breach a concrete barrier. Another involved a major branch where gunmen reportedly claimed to represent the authorities and forced entry. These events illustrate the severe operational risks created by armed conflict for banks, their employees, customers, and cash infrastructure.

• 2024

  Reported Gaza branch and vault robberies

  [1]Bank of Palestineen.wikipedia.org

  Armed groups reportedly stole approximately €66 million from several bank facilities in Gaza during the Gaza war.

• 2019

  Singer v. Bank of Palestine lawsuit

  [1]Bank of Palestineen.wikipedia.org

  An amended complaint alleged that the bank had provided financial assistance to Hamas; the bank rejected the claims and sought dismissal.

• 2016

  NAHJ Project launched

  [1]Bank of Palestineen.wikipedia.org

  The bank launched an initiative supporting entrepreneurship in Jerusalem schools.

• 2007

  Hashim Shawa became chairman and chief executive

  [1]Bank of Palestineen.wikipedia.org

  After his father's death, Hashim Shawa became chairman and chief executive at age 31.

• 1990

  Hani Shawa assumed operational leadership

  [1]Bank of Palestineen.wikipedia.org

  Hani Shawa took over the running of the bank in the early 1990s.

• 1960

  Bank founded in Gaza

  [1]Bank of Palestineen.wikipedia.org

  Hasheem Atta Shawa established Bank of Palestine in Gaza City as an agricultural bank serving farmers and the citrus economy.

A leading, locally rooted Palestinian full-service bank with historical ties to agricultural finance, broad domestic branch coverage, and services for consumers, businesses, and institutions.

• Lending · 1960

  Agricultural finance

  Agricultural finance is part of the bank's founding identity. Bank of Palestine was created to help farmers develop the citrus business and initially provided loans for farming equipment. The historical role gives the bank a distinctive connection to productive-sector lending in Palestine, even though its later activities expanded into general retail, commercial, and corporate banking.

• Personal banking

  Retail banking

  The bank serves individual customers through deposit and account services, payments, branch access, and consumer-oriented banking. Specific product names and terms are not identified in the supplied reference material, but retail banking is part of the institution's broader full-service role and its large domestic customer base.

• Business banking

  Corporate and commercial banking

  Corporate and commercial banking extends the institution's original development-oriented role to companies and other organizations. Services generally center on business accounts, lending, payments, and financial support for operating and investment needs; the supplied sources do not specify individual named products.

• Distribution

  Branch and representative-office services

  Bank of Palestine distributes its services through a broad Palestinian network of branches and sub-branches, reported as 74 locations, together with representative offices in Dubai and Santiago. The network is a central part of the bank's positioning as one of the most geographically distributed banking organizations in Palestine.

• 2019

  Singer v. Bank of Palestine allegations

  An amended complaint alleged that Bank of Palestine aided Hamas by providing financial services and maintaining accounts. The bank denied that the claims had a legal basis and said it was taking measures to obtain dismissal. The supplied material does not establish a final judicial finding.

  Source

Read more

• 2016NAHJ Project

  Jerusalem

  Bank of Palestine launched the NAHJ Project to support entrepreneurship in Jerusalem schools and encourage student engagement with enterprise.

  Outcome. The supplied reference confirms the initiative's launch but does not provide measured results or a later evaluation.

  Source

• 2016

  Launch of the NAHJ ProjectOther

  Background

  The bank sought to support entrepreneurship education among students in Jerusalem schools.

  Action taken

  It launched the NAHJ Project as a school entrepreneurship initiative.

  Aftermath

  The supplied material does not report quantified outcomes or a subsequent expansion.

  Source

• 1960

  Founding as an agricultural bankStrategy

  Background

  The institution was created in Gaza at a time when farmers and the citrus economy needed local credit and equipment financing.

  Action taken

  Hasheem Atta Shawa founded the bank with an agricultural-development mandate and lending for farming equipment.

  Aftermath

  The bank later broadened into a full-service Palestinian banking organization while retaining its agricultural-finance heritage.

  Source

• 2024

  Armed robberies reportedly removed tens of millions from Gaza bank facilities[1]Bank of Palestineen.wikipedia.org

  Other

  During the Gaza war, armed groups reportedly robbed several Bank of Palestine locations over a series of days. The reported losses were approximately €66 million, or about $70 million, including cash taken from a vault and from a major branch.

• 2016

  Bank of Palestine launched the NAHJ Project[1]Bank of Palestineen.wikipedia.org

  Campaign

  The bank introduced the NAHJ Project to support school entrepreneurship in Jerusalem schools.

1. 1Bank of Palestineen.wikipedia.org