What Palestine Islamic Bank does

Palestine Islamic Bank PLC (PIB) is a publicly listed Islamic bank headquartered in Ramallah, Palestine, established in 1995 with banking operations commencing in 1997. The bank is the largest Islamic banking network in Palestine, operating 43 branches and offices, over 100 ATMs, and a suite of digital channels including the Islami Mobile app, Quick service, E-SADAD bill payment, and the iBURAQ instant payment system. PIB serves retail individuals, SMEs, and corporate clients with Sharia-compliant products including current, salary, and savings accounts; time deposits; credit cards (World Elite, World, and Platinum Mastercard tiers); prepaid cards; a smart payment ring; and Islamic financing programs covering education, healthcare, and direct/indirect corporate financing. The bank is regulated by the Palestine Monetary Authority and operates under a dedicated Shari'a Supervisory Board, holding ISO 9001:2015 certification and Basel II/AMLA/FATCA/FATF compliance.

PIB's revenue is generated primarily through Islamic finance mechanisms (Murabaha, Ijara, Mudarabah, and other Sharia-compliant instruments), credit card transaction fees, and corporate/SME financing margins. The bank's distribution is omnichannel, with a 43-branch physical network complemented by digital self-serve channels; a 24/7 digital call center handles customer support. PIB owns minority strategic stakes in sister companies Al-Takaful (Islamic insurance, 27.83%) and Al-Ijara (Islamic leasing, 33.33%), creating an integrated Islamic finance ecosystem. Ownership is concentrated among regional institutional investors, with National Islamic Investment Company (24.85%), Palestinian Pension Agency (10.39%), and other strategic/regional shareholders holding majority control. The bank has consistently been recognized as 'Best Islamic Bank in Palestine' by multiple international bodies (IFN, EMEA Finance, International Business Magazine, International Finance Magazine, World Union of Arab Bankers) every year from 2013 through 2025, and in 2025 issued its first GRI-aligned sustainability report. Note: provided financial figures appear to contain data errors (values shown in trillions under '$M' labels) and are not reliable for analysis.

Name

Palestine Islamic Bank

Legal name

Palestine Islamic Bank PLC

Website

https://islamicbank.ps

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Palestine Islamic Bank is Palestine's largest Islamic bank, serving retail, SME, and corporate customers through 43 branches, 100+ ATMs, and digital channels with Sharia-compliant deposits, financing, and cards.

Ownership category

akta.pro rank

Product category

Islamic Retail Banking

NAICS

Commercial Banking (52211)

SIC

Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Islamic Retail Banking (FSABAGAA)

akta.pro secondary industries

Islamic SME & Commercial Banking (FSABAGAB), Islamic Transaction Banking (Cash Management & Treasury Services) (FSABAGAF)

Keywords

• Islamic retail banking
• Sharia-compliant financing
• Corporate banking services
• Mobile banking
• Credit card services

Headquarters

HQ city

Ramallah

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Islamic Banking Services: Palestine Islamic Bank conducts banking, financial, commercial, and investment activities in accordance with the principles of Islamic Sharia. The bank offers a comprehensive range of modern and innovative Sharia banking services and products including current accounts, savings accounts, time deposits, Islamic financing (direct and indirect), credit cards, and electronic banking services. Revenue is generated through Islamic finance mechanisms including Murabaha, Ijara, Mudarabah, and other Sharia-compliant instruments.
2. Corporate and SME Financing: Direct and indirect financing programs for corporate and SME customers, generating income through Islamic financing arrangements.
3. Credit Card Operations: World Elite Mastercard, World Mastercard, and Platinum Mastercard credit card services generating transaction fees and commissions.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels6 records

Core offering

Palestine Islamic Bank PLC conducts banking, financial, commercial, and investment activities in accordance with the principles of Islamic Sharia. It offers a comprehensive range of products including personal and corporate deposit accounts (current, salary, savings, and time deposits), Islamic credit cards (World Elite, World, Platinum Mastercard and prepaid cards), and Sharia-compliant financing programs for education, healthcare, and corporate/SME customers. Distribution is through a network of 43 branches and offices, 100+ ATMs, and digital channels including the Islami Mobile app, E-SADAD bill payment, and the iBURAQ instant payment system.

Product overview

Palestine Islamic Bank (PIB) offers a comprehensive suite of Islamic banking products and services through both traditional branch network and digital channels. The core banking offerings include personal and corporate deposit accounts (current, salary, savings, and time deposits), credit cards (World Elite Mastercard, World Mastercard, Platinum Mastercard, and Prepaid Card), and various financing programs (education, healthcare, and corporate financing). Digital services are delivered through the Islami Mobile app, Quick Service, E-SADAD bill payment, and the iBURAQ instant payment system. The bank operates a network of 43 branches and offices with over 100 ATMs across Palestine. Sister companies include Al-Takaful (Takaful insurance) and Al-Ijara (Islamic leasing), which complement the bank's product ecosystem.

Differentiator

Problem solved

Functional benefit

Products and services

• Current Account Islamic-compliant current account for everyday banking transactions targeted at individual retail customers.
• Salary Account Current account specifically designed for salary deposits with preferential terms, targeted at individual salary earners including UNRWA employees.
• Savings Account Islamic-compliant savings account with competitive profit rates targeted at individual retail customers.
• Corporate Accounts Business deposit accounts tailored for corporate and institutional clients.
• Time Deposit Account Fixed-term deposit account with guaranteed returns for specified periods, targeted at business and individual investors.
• World Elite Mastercard Premium credit card offering exclusive benefits, worldwide acceptance, and high credit limits for high-net-worth individual and business customers.
• World Mastercard Mid-tier credit card with comprehensive benefits and international acceptance, issued in personal and business variants.
• Platinum Mastercard Entry-level premium credit card with enhanced benefits compared to standard cards, issued in personal and business variants.
• PIB Prepaid Card Prepaid card enabling secure purchases at local and international point-of-sale terminals and online without requiring a bank account.
• Smart Payment Ring (خاتم وسوار الدفع الذكي) Wearable smart ring and bracelet enabling contactless payments at point-of-sale terminals.
• Education Financing Islamic financing program for installment payment of educational fees and related expenses, targeted at individuals.
• Healthcare Financing Islamic financing program for installment payment of healthcare and medical services, targeted at individuals.
• Direct Corporate Financing Direct Islamic financing solutions for corporate clients and businesses, using Sharia-compliant structures such as Murabaha, Ijara, and Mudarabah.
• Indirect Corporate Financing Indirect Islamic financing solutions for corporate clients and businesses, structured under Sharia-compliant arrangements.
• Islami Mobile App Mobile banking application available on Google Play and App Store, providing 24/7 access to banking services including account management, transfers, and bill payments, with the ability to operate even without internet/WiFi connectivity.
• Quick Service Quick digital banking service for fast transactions and immediate access to account functionalities.
• E-SADAD Bill Payment Electronic bill presentation and payment service for settling utility bills and other recurring payments, available to personal and business customers.
• iBURAQ Instant Payment System Instant payment system enabling real-time fund transfers between banks in Palestine, targeted at business customers.
• Digital Call Center 24/7 digital customer service center for banking inquiries and support through remote channels.
• Currency Exchange
• Islami Online Online banking platform for account access and transactions via web browser.
• Money Transfers Domestic and international remittance and money transfer services for personal and business customers.

Quantifiable outcome

• Largest Islamic banking network in Palestine with 43 branches and offices and more than 100 ATMs

Named customers3 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Al-Ijara Company (شركة الإجارة)coreOthersAl-Ijara Company is one of the leading companies in Islamic leasing and financing services for small and medium enterprises in Palestine, headquartered in Ramallah. It is a sister company of Palestine Islamic Bank, which contributes 33.33% of the company's capital and is represented by two active members on the Board of Directors.
• Al-Takaful Insurance Company (شركة التكافل)coreOthersAl-Takaful Insurance Company is one of the leading companies in Islamic Takaful insurance in Palestine, headquartered in Ramallah. It is a sister company of Palestine Islamic Bank, which owns 27.83% of the company's shares and is represented by two active members on the Board of Directors.
• Mastercard (World Elite, World, Platinum cards)coreTechnology or IntegrationPalestine Islamic Bank issues World Elite Mastercard, World Mastercard, and Platinum Mastercard credit cards, integrating Mastercard's payment network technology into its card product offerings for both personal and business customers.
• Palestine Monetary Authority (PMA)coreOthersThe bank is regulated by the Palestine Monetary Authority and adheres to its regulations and instructions, including Basel II recommendations, Anti-Money Laundering laws (AMLA 20/2015), FATCA compliance, and FATF recommendations.
• GCL Palestine (GCL International)minorOthersGCL Palestine, representing GCL International, conducted the external audit resulting in the bank's ISO 9001:2015 certification.
• Palestine Deposit Insurance CorporationminorOthersThe bank is covered by the Palestine Deposit Insurance Corporation, which provides deposit protection for bank customers in Palestine.
• United Nations Global CompactminorOthersPalestine Islamic Bank joined the UN Global Compact in 2019, committing to the Ten Principles in human rights, labor, environment, and anti-corruption. The bank adopts a social responsibility program aligned with this commitment.
• Jathroon Foundation (مؤسسة جذور)coreStrategic or Co-development PartnerThe bank signed an agreement with Jathroon Foundation to support the equipping of 5 health centers in the Gaza Strip. The bank and foundation are jointly implementing this project as part of the bank's sustainable community responsibility program.
• Birzeit University Friends Association (جمعية أصدقاء جامعة بيرزيت)minorStrategic or Co-development PartnerThe bank signed a cooperation memorandum with the Birzeit University Friends Association, supporting educational activities and university programs.
• Injaz (Finance professional development)minorOthersReferences in training and supplier programs suggest partnerships with professional development organizations.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Bank of Palestine: Largest conventional bank in Palestine with broad retail, corporate, and digital banking services. Competes with PIB across the same customer base, particularly for corporate financing and SME accounts where PIB's Islamic offering must win on differentiation.
• Quds Bank: Palestinian conventional bank with a significant branch network offering retail and corporate banking. Direct local competitor for deposits and SME financing in the same Palestinian operating geography.
• Palestine Investment Bank: Palestinian bank with significant branch presence offering investment and commercial banking services. Direct local competitor for corporate banking relationships and SME financing in the same Palestinian operating market.
• Arab Islamic Bank (Palestine): Palestine-based Sharia-compliant bank operating under the Palestine Monetary Authority, offering similar retail and corporate Islamic banking products. Direct head-to-head competitor to PIB in the Palestinian Islamic banking niche.

Broad incumbents

• Al Rajhi Bank: Largest Islamic bank in the world by assets, headquartered in Saudi Arabia. Operates across retail, corporate, and treasury under Sharia principles — a broad incumbent that defines the Islamic banking benchmark PIB is measured against in award categories.
• Kuwait Finance House: Major Gulf-based Islamic bank offering retail, corporate, and investment banking under Sharia principles. Comparable product suite (Murabaha, Ijara, Mudarabah) and a useful benchmark for regional Islamic banking standards.
• Dubai Islamic Bank: UAE-headquartered Islamic bank offering a similar retail and corporate product suite with digital banking. Broad incumbent peer that has been cited alongside PIB in international Islamic banking rankings and awards.
• Qatar Islamic Bank: Largest Islamic bank in Qatar, offering retail, corporate, and investment banking under Sharia principles. Comparable on Islamic product mix and digital banking maturity, and a regional scale benchmark for Islamic banking franchise value.
• Al Baraka Bank (Al Baraka Banking Group): Bahrain-headquartered Islamic banking group with operations across the Middle East and North Africa. Comparable product mix (Murabaha, Ijara, Musharaka) and a relevant scale benchmark for regional Islamic banking franchise economics.

Regional players

• Jordan Islamic Bank: One of the largest Islamic banks in Jordan, offering similar retail, corporate, and Sharia-compliant financing products. Regional comparable given geographic and regulatory proximity, though it primarily operates in Jordan rather than Palestine.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/islamicbankps

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Palestine Islamic Bank