Bank of Palestine obtains the 2019 Global Finance Magazine Prize for best bank in Palestine for Treasury and Cash Management

For the first time, Bank of Palestine was awarded the 2019 Global Finance magazine prize for best bank in Palestine in the field of treasury and cash management. The award was announced during a ceremony that was held in the British capital, London. Two weeks earlier, a ceremony was held in Dubai, the United Arab Emirates, in the presence of several financial institutions and banks from the Middle East, North Africa, and other countries around the world, whereby the said magazine granted the bank nine awards: best bank for digital services provided to customers; best bank for mobile banking services; best mobile banking application for individual customers; best bank in the fields of creativity and innovation; best bank for electronic payments and purchases; best bank for digital services for companies and organizations; best bank for internet cash management; most comprehensive bank for corporate banking services; and the most innovative bank in the fields of technology and banking solutions. 

The bank was granted this award as a result of the distinguished services offered to its customers in the fields of treasury, currency exchange, investment management and cash management. The bank is also renowned for providing around-the-clock services to assist merchants in facilitating intraregional and international trade. 

Mr. Rushdi Ghalayini, the General Director of Bank of Palestine, stated that the award was granted as a result of the efforts exerted by the bank during the last few years in developing products and services related to treasury and cash management. Ghalayini stated that “the bank allocated a trained team of experts to provide services to customers and merchants, and extended the Foreign Exchange Department working hours to eight in the evening, including on Fridays, to conduct currency trading deals for its customers.” The bank also provides other services that include forward dealing, specific order services for currency trading to facilitate customer transactions and accelerate internal and external trade, stemming from its plan to achieve digital solutions that facilitate customers’ electronic transactions (currency trading services are also available electronically through the Banki mobile application, internet banking and ATMs).

In the field of cash management, Ghalayini states that the bank managed to respond to the cash needs of its customers in all currencies traded in Palestine, as well as transferring cash from various sources to provide for local market needs. “Despite the challenging economic and political circumstances we are confronted with, in addition to the difficulties we face in transferring cash from and to Palestine, and the accumulation of cash in the Shekel currency at the bank, we were still able to optimize our cash management operations in a manner that is compatible with market, customer and merchant needs, with the least possible risks,” stated Ghalayini. “Our efforts were conducted through the coordination and support of the Palestine Monetary Authority who played a major role in the success of this achievement,” he added. Ghalayini expressed his gratitude for the continuous efforts of the Palestine Monetary Authority and the work teams at Bank of Palestine’s treasury and cash management departments.

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