Bank of Palestine Says Mulls Opening Representative Office In Egypt

Hashim Shawa, chairman of Bank of Palestine (BoP), mentioned that the bank is studying several alternatives, including opening a representative office in Egypt or acquiring a stake in an Egyptian bank.

He added that BoP  is currently studying several oversees investment opportunities as it focuses on foreign expansions.

Shawa further said the BoP is highly interested in entering the Egyptian market stressing that the volume of trade between Egypt and Palestine has hit $2 billion. On foreign investors’ concerns over the current political situation in the country, Shawa commented that after the Muslim Brotherhood assumed power, Palestinian investors worries have eased.

Source: Mubasher