Ramallah: In the framework of its quest to upgrade its branches network in Palestine to provide the best services to its clients wherever they are, Bank of Jordan has completed the relocation of its branch in the industrial zone – Ramallah from its old premises in Beitunia – Jaffa Street to its new location at Abraj House – Tokyo Street – Ein Munjed – Ramallah.

His Excellency the Governor of the  Palestine Monetary Authority Azzam Al-Shawwa inaugurated the new branch in the presence of the Regional Manager of Bank of Jordan in Palestine Mr Hatem Fukaha, The Deputy Governor of Ramallah and El-Bireh Governorate Mr Hamdan Al-Bargouthi, the Deputy Mayor of El-Bireh Mr Hisham Shkokani, Consul Ala’a Al-Odwan representing the Embassy of Jordan in Palestine and several banking and economic figures.

His Excellency, the Governor of the PMA, Mr Azzam Al-Shawwa expressed his satisfaction at inaugurating this new branch of Bank of Jordan and its harmony with the strategy of the PMA in enhancing the spread of the banks’ branches and offices to cover all districts, while pointing to its effect in achieving the process of financial inclusion and enhancing the financial stability of the banking sector.

His Excellency the Governor hailed Bank of Jordan and its distinguished involvement in meeting the needs of the Palestinian market from services and banking products while clarifying that the value of its net assets as at the end of September 2018 amounted to US$ 612 million while its total direct credit facilities amounted to US$ 277 million. The value of its clients’ deposits amounted to US$ 495 million for the same period, thus showing the continuous development in the bank’s performance.

Al-Shawwa touched on the efforts of the PMA to develop the Palestinian banking sector while pointing to several projects to be launched by the PMA before the end of 2018, including the new electronic clearance system, the launch of the national strategy of financial inclusion and the development of the modern payment systems.

The Regional Manager of Bank of Jordan, Hatem Fukaha thanked His Excellency the Governor of the PMA and the personalities that attended the inauguration for their participation and support and praised the prompt procedures that distinguish the PMA and its cooperation with the operating banks. He stressed that the inauguration of the new branch falls within the policy of the Bank of Jordan to expand geographically to serve its clients and to provide high quality services to them , as the goals of the bank are represented in reaching the biggest segment of clients whether individuals or small business enterprises in line with the policy of the PMA to achieve financial inclusion.

He added that the relocation of the current branch to the new location is the harvest of the fruits of joint cooperation while noting that the bank always strives to develop its policy aimed at opening new branches in Palestine to embody the directions of the bank’s management to provide its services at all locations to best serve the Palestinian economy.

It is noteworthy that Bank of Jordan was among the first banks in the Palestinian market and strives to provide distinguished banking services to all segments of its clients whether individuals, companies or institutions through its branches and offices scattered in the West Bank and the Gaza strip.