Ramallah – Bank of Palestine announced the joining of Mrs. Nada Shousha, who was elected by the International Finance Corporation, as an independent member to its board of directors.
Nada Shousha has a rich and extensive experience in the field of banking and the development of products and services and financial and banking institutions in several Arab countries, as well as countries around the world. Alongside its regional and international connections, and the establishment of branches in the United Arab Emirates and Chile, Bank of Palestine is entering a new stage in its ongoing efforts to promote growth and provide financial consultations and banking tools to attract more investments to Palestine.
Mr. Hashim Al Shawa, the Chairman of Bank of Palestine Financial Group, expressed his enthusiasm about the joining of Mrs. Shousha, pointing out that her addition to the bank’s board of directors corresponds with the bank’s strategy to focus on attracting regional and international investments to Palestine, and Shousha will be an added value to all these efforts as she will contribute to move the bank to a new stage of development, growth and success.
Currently, Mrs. Nada Shousha is the top consultant at the International Finance Corporation. She also held the position of the Regional Director of the International Finance Corporation in Egypt, Libya and Yemen, during which she was able to manage financial portfolios that are worth billions of dollars in Egypt, which is considered the regional office of the IFC in the Middle East and North Africa, holding the biggest investment portfolios in the region. Shousha also managed other portfolios and consulting services programs in Yemen. During her time in office, the International Finance Corporation’s program in Egypt increased from an annual program that ranges between 50-70 million dollars to one that is worth 250 million dollars in projects annually. Shousha was also responsible for several strategies concerned with financial transformation in the so-called Arab Spring countries after assisting them in regaining investor trust and private sector investments, in addition to drafting regional partnership strategies with the World Bank board of directors and regional governments. Her expertise at the International Finance Corporation included the investment of millions of dollars in financing real estate mortgages, insurance, discounts, secondary debts and commercial banking services across Europe, the Middle East and North Africa.
Prior to joining the International Finance Corporation, Shousha held the position of Manager in the Corporate Finance Practice at Arthur Andersen and Co., where she was in charge of several projects, including merger and acquisition services for investment groups, restructuring debts and capital and improving cash flow.
According to Al Shawa, Shousha’s membership in the bank’s board of directors is a rather important milestone, as she will be an added-value to the board because of her expertise and international experiences in the field of banking, especially in the multilateral world of finance and development, which includes all aspects of economic and social life.