EMEA Finance recognized Bank of Palestine as "Best Bank in Palestine" for the second year in a row, and Al-Wasata Securities (a Bank o Palestine subsidiary) as "Best Broker" in Palestine- the first award given to a Palestinian broker by EMEA Finance in a ceremony held in Dubai on April 22nd, 2013.
Hashim Shawa, Chairman and General Manager of BOP stated that this recognition by EMEA Finance will strengthen Palestine's position among global financial institutions, given the importance of BOP and Al-Wasata Securities' achievement. Shawa further added that BOP works tirelessly to ensure the success of projects that contribute to the development of the Palestinian economy and society.
“Bank of Palestine is a hugely important part of the economic development of Palestine, and for a second year in a row we have named Bank of Palestine as the country’s best bank,” says Christopher Moore, publisher & CEO of EMEA Finance magazine. “The institution is one of the country’s leading corporate names, and accounts for some 13% of the stock exchange’s total market capitalisation. Bank of Palestine continues to register double digit growth in banking performance indicators including profits, assets and loans. Notable also was the bank’s increase in paid in capital by 11.7% raising it to USD 134 million.”
Sadeq Ferwana, General Manager of Al-Wasata Securities, stated that this achievement is the result of the broker's professional dealing with investors, and the role it plays in attracting new investors in the Palestinian market. Moore added, “EMEA Finance awarded for the first time ever a Best Broker in Palestine. We are proud to recognize Al Wasata Securities Company, a subsidiary of Bank of Palestine, as the country’s best broker,” says Moore.
Established in December 2006, the firm has been the fastest growing brokerage company in Palestine since, and ranked number one by trading volume during the third quarter of 2012, with more than USD 310 million of shares under control – 16% of the total shares deposited in all Palestinian brokerage firms. Al Wasata Securities Company acted as issuance trustee for a USD 20 million bond deal from the Arab Palestinian Investment Company, one of Palestine's largest companies. The firm continues to ‘bring the world to Palestine’, its successful roadshow encouraging Qatari investors to invest in Palestine – resulted in the firm gaining new Qatari clients numbering, again, in the double digits.
In the past few years, BOP's development, achievements, and contribution to the Palestinian society and economy have been recognized by several institutions; some of these recognitions in 2012 and 2013 included being awarded the prestigious Euromoney Award for Excellence, Global Finance Award, in addition to being nominated by the Financial Times and International Finance Corporation for the Sustainable Bank of the year for the second time this year.