Bank of Palestine

Bank of Palestine, also known as Bank Filasṭīn or BoP, is a Palestinian banking organization established in Gaza City in 1960. It is described as the first bank founded in Palestine and has developed into one of the territory’s most geographically distributed financial institutions. Its headquarters are in Ramallah in the West Bank, while its domestic network includes branches and sub-branches across Palestine. The bank also maintains representative offices in Dubai, United Arab Emirates, and Santiago, Chile. The institution was created by Hasheem Atta Shawa as an agricultural bank. The founding purpose was closely connected with the economic role of citrus cultivation in Gaza: Shawa’s family was involved in the citrus business, and the bank was intended to help farmers acquire equipment and obtain credit to develop agricultural activity. This origin gave the organization a development-oriented role in addition to its commercial banking function. During the early 1990s, management of the bank passed to Hani Shawa. After his father died in 2007, Hashim Shawa, then aged 31, became chairman and chief executive officer. Under his leadership, the bank expanded its institutional and customer base. The reference material describes an organization with approximately 1,980 employees and more than 900,000 customers, although the applicable reporting date for those figures is not specified. Bank of Palestine’s business is centered on conventional banking services for individuals, businesses, and institutions. Its publicly described role includes lending, deposit-taking, branch banking, and financial services supporting Palestinian households and enterprises. The bank’s historical agricultural focus remains an important part of its origin story, while its later development reflects a broader national banking mandate. The bank has also undertaken community initiatives. In 2016 it launched the NAHJ Project, an education and entrepreneurship program intended to support school-based entrepreneurship in Jerusalem schools. The project illustrates the bank’s effort to associate its brand with youth development, financial participation, and local economic opportunity. Bank of Palestine has operated in a difficult legal and security environment. In 2019, plaintiffs in the United States amended a complaint known as Singer v. Bank of Palestine, alleging that the bank had aided Hamas through financial services and accounts. The bank rejected the claims, argued that they lacked a legal basis, and said it was taking strong and prompt measures to seek dismissal. The case is included here as a reported legal controversy, not as a finding that the allegations were established. During the Gaza war in 2024, armed groups reportedly robbed Bank of Palestine facilities in Gaza over several days. Reporting cited by the reference material described losses totaling approximately €66 million, or about $70 million at the reported conversion, although the precise final loss and accounting treatment are not established here. The reported incidents included a vault break-in discovered on 16 April, the removal of cash after explosives were used to breach a concrete security measure, and a further robbery at the bank’s second-largest Gaza branch on 18 April. These events highlight the operational risks facing financial institutions in conflict-affected areas.

Bank of Palestine was established in Gaza City in 1960 by Hasheem Atta Shawa. It was founded as an agricultural bank at a time when citrus cultivation was an important part of Gaza’s economy and of the Shawa family’s commercial background. The original mission was to make finance available to farmers, including loans for agricultural equipment and support for the expansion of citrus-related activity. This founding purpose positioned the institution as both a bank and a vehicle for local economic development. The bank later broadened beyond its initial agricultural remit. In the early 1990s, Hani Shawa took over the running of the institution. Following his father’s death in 2007, Hashim Shawa became chairman and chief executive officer at the age of 31. The subsequent period is associated with the bank’s growth as a broad Palestinian financial institution serving retail customers, businesses, and other organizations. Bank of Palestine’s main office is in Ramallah, and the institution has been described as having the widest geographic distribution among Palestinian banking corporations. Its network comprises 74 branches and sub-branches, supplemented by representative offices in Dubai and Santiago. Reference material also describes a workforce of about 1,980 employees and a customer base exceeding 900,000, without specifying the reporting date for those figures. The bank’s public role includes conventional commercial and retail banking, lending, deposits, branch services, and financial support for economic activity. Its agricultural origins remain a defining historical feature, even though its later identity is that of a diversified national bank rather than a narrowly agricultural lender. Community and education initiatives form another part of the institution’s public profile. In 2016, Bank of Palestine launched the NAHJ Project to support school entrepreneurship in Jerusalem schools. The program connected the bank with student enterprise, education, and local opportunity. The organization has also faced legal and security challenges. In 2019, an amended complaint in Singer v. Bank of Palestine alleged that the bank had assisted Hamas through financial services and accounts. Bank of Palestine rejected the allegations and maintained that the plaintiffs lacked a legal basis, while stating that it was pursuing prompt measures to have the case dismissed. The available material does not establish the allegations as fact. In 2024, amid the Gaza war, armed gangs reportedly entered Bank of Palestine facilities in Gaza and took large quantities of cash. The reported sequence included a vault theft discovered on 16 April, followed by the use of explosives to breach a concrete barrier protecting remaining cash, and a separate robbery at the bank’s second-largest Gaza branch on 18 April. The cited reporting put the combined loss at approximately €66 million, but the final confirmed financial impact is not supplied in the available material. These events form part of the bank’s recent history as an institution operating amid severe conflict and infrastructure risk.

1. 2024Reported Gaza branch and vault robberies

   Armed groups reportedly robbed several Bank of Palestine facilities in Gaza during the war, causing substantial reported cash losses.

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2. 2019Singer v. Bank of Palestine complaint

   An amended United States complaint alleged that the bank provided financial support to Hamas; the bank disputed the allegations and sought dismissal.

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3. 2016NAHJ Project launched

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

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4. 2007Hashim Shawa becomes chairman and CEO

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

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5. 1990Hani Shawa takes over management

   Hani Shawa assumed responsibility for running the bank during the early 1990s.

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6. 1960Bank founded in Gaza

   Hasheem Atta Shawa established the bank in Gaza City as an agricultural lender intended to support farmers and citrus cultivation.

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A nationally rooted Palestinian bank combining commercial financial services with a historic development and agricultural-finance role.

• Retail bankingPersonal banking

  Bank of Palestine serves individual customers through its Palestinian branch and sub-branch network. The available reference material identifies the institution as a broad banking corporation rather than a specialist lender, but does not provide a detailed current catalog of account, card, payment, or digital-banking products.

• Commercial and corporate bankingBusiness banking

  The bank provides financial services to businesses and institutions as part of its evolution from an agricultural lender into a diversified Palestinian banking organization. Specific current product names, eligibility rules, and service terms are not stated in the supplied references.

• Agricultural lendingAgricultural finance1960

  Agricultural finance is the bank’s founding product area. Its original purpose was to help farmers develop citrus cultivation and obtain equipment through loans. The available sources establish this historical role but do not describe the current size or structure of the agricultural-finance portfolio.

• Branch and cash servicesBanking operations

  A large Palestinian network of branches and sub-branches supports local access to banking and cash services. The reference material reports 74 branches and sub-branches, but does not provide a complete current location list or detailed service menu.

• 2016NAHJ Project

  Jerusalem

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

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• 2016Launch of school entrepreneurship programStrategy

  The bank sought to extend its public and community role beyond core financial services.

  What changed. It launched the NAHJ Project to support entrepreneurship in Jerusalem schools.

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• 2024Reported Gaza cash robberiesControversy

  Reporting cited in the reference material described armed robberies at Bank of Palestine facilities in Gaza during the war, including the forced opening of a vault and a later robbery at a major branch. Reported losses were approximately €66 million, though the final confirmed amount is not provided.

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• 2019Singer v. Bank of Palestine allegationsControversy

  An amended complaint in a United States lawsuit alleged that the bank aided Hamas by providing financial services and maintaining accounts. Bank of Palestine denied that the claims had a legal basis and sought dismissal. The supplied material does not establish the allegations as proven.

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1. Bank of Palestine
2. Bank of Palestine official website