Bank of Palestine has received an In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of ADGM, the international financial center of the UAE, to obtain a Category 1 (CAT1) License.
This authorization will allow Bank of Palestine to conduct the following regulated activities in or from ADGM: Accepting Deposits and Arranging Deals in Investments, targeting the Global Palestinian community at large.
Once fully operational in second half of 2026, this license will allow the Bank of Palestine to operate globally from ADGM further strengthening its proposition and diversifying its operations leveraging seamless digital banking services.
“This is a historic milestone for Bank of Palestine, ushering in a new era of global reach, digital excellence, and future-proof banking and wealth management. As we mark 65 years since our founding in 1960, operating from Abu Dhabi, one of the world’s most dynamic international financial hubs, reflects our ambition to serve our people and partners across the globe, building on a legacy of resilience and innovation.”
Linda Tarazi, who brings over two decades of international banking experience, has been appointed CEO of ADGM entity, Bank of Palestine – Global Ltd., where she will lead the bank’s global expansion.
Abu Dhabi provides the ideal environment for this expansion, offering the trust, innovation, and robust regulatory oversight required to scale globally.
Arvind Ramamurthy, Chief Market Development Officer at ADGM, said that, “We are pleased to welcome Bank of Palestine to ADGM. Their decision to choose Abu Dhabi as a global launchpad reinforces ADGM’s position as a trusted and well-regulated leading international financial center in the MENA region. ADGM’s dynamic ecosystem brings together a diverse community of global banks, asset managers, fintech innovators, and professional service providers, all operating within a robust regulatory framework aligned with international standards. BOP’s long-standing history and expertise will further enrich this ecosystem of global financial entities.”
