Bank Of Palestine
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Bank Of Palestine
The Bank of Palestine (Arabic: بنك فلسطين), abbreviated as BoP, is a Palestinian multinational banking organization founded in Gaza in 1960. It is headquartered in Ramallah, West Bank and is the leading financial institution in Palestine, with a net worth of $6.5 billion USD. History The bank was established in Gaza City in 1960, making it the first in Palestine. Hasheem Atta Shawa founded it as an agricultural bank to help farmers develop their citrus business since Shawa's family was also in the citrus business at the time. The bank helped farmers with loans for farming equipment. In the early 1990s, Dr. Hani Shawa took over in running the bank. Hashim Shawa, aged 31, became chairman and CEO of the bank after his father passed away in 2007. Since then, the bank has about 1,980 employees and serves over 900,000 customers. In 2019, the bank was the target of an amended complaint titled ''Singer v. Bank of Palestine'' (case number: 1:19-cv-00006) which claimed tha ...
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Arabic
Arabic (, ' ; , ' or ) is a Semitic languages, Semitic language spoken primarily across the Arab world.Semitic languages: an international handbook / edited by Stefan Weninger; in collaboration with Geoffrey Khan, Michael P. Streck, Janet C. E.Watson; Walter de Gruyter GmbH & Co. KG, Berlin/Boston, 2011. Having emerged in the 1st century, it is named after the Arabs, Arab people; the term "Arab" was initially used to describe those living in the Arabian Peninsula, as perceived by geographers from ancient Greece. Since the 7th century, Arabic has been characterized by diglossia, with an opposition between a standard Prestige (sociolinguistics), prestige language—i.e., Literary Arabic: Modern Standard Arabic (MSA) or Classical Arabic—and diverse vernacular varieties, which serve as First language, mother tongues. Colloquial dialects vary significantly from MSA, impeding mutual intelligibility. MSA is only acquired through formal education and is not spoken natively. It is ...
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State Of Palestine
Palestine ( ar, فلسطين, Filasṭīn), Legal status of the State of Palestine, officially the State of Palestine ( ar, دولة فلسطين, Dawlat Filasṭīn, label=none), is a state (polity), state located in Western Asia. Officially governed by the Palestine Liberation Organization (PLO), it claims the West Bank, including East Jerusalem, and the Gaza Strip as its territory, though the entirety of that territory has been Israeli-occupied territories, occupied by Israel since the 1967 Six-Day War. As a result of the Oslo Accords of 1993–1995, the West Bank is currently divided into 165 Palestinian enclaves that are under partial Palestinian National Authority (PNA) rule; the remainder, including 200 Israeli settlement, Israeli settlements, is under Area C (West Bank), full Israeli control. The Gaza Strip has been ruled by the militant Islamic group Hamas and has been subject to Blockade of the Gaza Strip, a long-term blockade by Egypt and Israel since 2007. After W ...
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Multinational Corporation
A multinational company (MNC), also referred to as a multinational enterprise (MNE), a transnational enterprise (TNE), a transnational corporation (TNC), an international corporation or a stateless corporation with subtle but contrasting senses, is a corporate organization that owns and controls the production of goods or services in at least one country other than its home country. Control is considered an important aspect of an MNC, to distinguish it from international portfolio investment organizations, such as some international mutual funds that invest in corporations abroad simply to diversify financial risks. Black's Law Dictionary suggests that a company or group should be considered a multinational corporation "if it derives 25% or more of its revenue from out-of-home-country operations". Most of the largest and most influential companies of the modern age are publicly traded multinational corporations, including '' Forbes Global 2000'' companies. History Colonialism Th ...
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Bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ...
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Gaza Strip
The Gaza Strip (;The New Oxford Dictionary of English (1998) – p.761 "Gaza Strip /'gɑːzə/ a strip of territory under the control of the Palestinian National Authority and Hamas, on the SE Mediterranean coast including the town of Gaza...". ar, قِطَاعُ غَزَّةَ ' , he, רצועת עזה, ), or simply Gaza, is a State of Palestine, Palestinian Enclave and exclave, exclave on the eastern coast of the Mediterranean Sea. The smaller of the two Palestinian territories, it borders Egypt on the southwest for and Israel on the east and north along a border. Together, the Gaza Strip and the West Bank make up the State of Palestine, while being under Israeli-occupied territories, Israeli military occupation since 1967. The territories of Gaza and the West Bank are separated from each other by Israeli territory. Both fell under the jurisdiction of the Palestinian National Authority, Palestinian Authority, but the Strip is governed by Hamas, a militant, fundamentali ...
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Ramallah
Ramallah ( , ; ar, رام الله, , God's Height) is a Palestinian city in the central West Bank that serves as the ''de facto'' administrative capital of the State of Palestine. It is situated on the Judaean Mountains, north of Jerusalem, at an average elevation of above sea level, adjacent to al-Bireh. Ramallah has buildings containing masonry from the period of Herod the Great, but no complete building predates the Crusades of the 11th century. The modern city was founded during the 16th century by the Hadadeens, an Arab Christian clan descended from Ghassanids. In 1517, the city was incorporated into the Ottoman Empire, and in 1920, it became part of British Mandatory Palestine after it was captured by the United Kingdom during World War I. The 1948 Arab–Israeli War saw the entire West Bank, including Ramallah, occupied and annexed by Transjordan. Ramallah was later captured by Israel in the 1967 Six-Day War. Since the 1995 Oslo Accords, Ramallah has been go ...
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West Bank
The West Bank ( ar, الضفة الغربية, translit=aḍ-Ḍiffah al-Ġarbiyyah; he, הגדה המערבית, translit=HaGadah HaMaʽaravit, also referred to by some Israelis as ) is a landlocked territory near the coast of the Mediterranean Sea, Mediterranean in Western Asia that forms the main bulk of the Palestinian territories. It is bordered by Jordan and the Dead Sea to the east and by Israel (see Green Line (Israel), Green Line) to the south, west, and north. Under Israeli occupation of the West Bank, an Israeli military occupation since 1967, its area is split into 165 Palestinian enclaves, Palestinian "islands" that are under total or partial civil administration by the Palestinian National Authority (PNA), and 230 Israeli settlements into which Israeli law in the West Bank settlements, Israeli law is "pipelined". The West Bank includes East Jerusalem. It initially emerged as a Jordanian-occupied territory after the 1948 Arab–Israeli War, before being Jordani ...
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United States Dollar
The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color. The monetary policy of the United States is conducted by the Federal Reserve System, which acts as the nation's central bank. The U.S. dollar was originally defined under a bimetallic standard of (0.7735 troy ounces) fine silver or, from 1837, fine gold, or $20.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, it ...
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Gaza City
Gaza (;''The New Oxford Dictionary of English'' (1998), , p. 761 "Gaza Strip /'gɑːzə/ a strip of territory in Palestine, on the SE Mediterranean coast including the town of Gaza...". ar, غَزَّة ', ), also referred to as Gaza City, is a Palestinian city in the Gaza Strip, with a population of 590,481 (in 2017), making it the largest city in the State of Palestine. Inhabited since at least the 15th century BCE, Gaza has been dominated by several different peoples and empires throughout its history. The Philistines made it a part of their pentapolis after the Ancient Egyptians had ruled it for nearly 350 years. Under the Roman Empire Gaza experienced relative peace and its port flourished. In 635 CE, it became the first city in Palestine to be conquered by the Muslim Rashidun army and quickly developed into a center of Islamic law. However, by the time the Crusaders invaded the country starting in 1099, Gaza was in ruins. In later centuries, Gaza experienced several ...
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Complaint
In legal terminology, a complaint is any formal legal document that sets out the facts and legal reasons (see: cause of action) that the filing party or parties (the plaintiff(s)) believes are sufficient to support a claim against the party or parties against whom the claim is brought (the defendant(s)) that entitles the plaintiff(s) to a remedy (either money damages or injunctive relief). For example, the Federal Rules of Civil Procedure (FRCP) that govern civil litigation in United States courts provide that a civil action is commenced with the filing or service of a pleading called a complaint. Civil court rules in states that have incorporated the Federal Rules of Civil Procedure use the same term for the same pleading. In Civil Law, a “complaint” is the first formal action taken to officially begin a lawsuit. This written document contains the allegations against the defense, the specific laws violated, the facts that led to the dispute, and any demands made by the ...
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Hamas
Hamas (, ; , ; an acronym of , "Islamic Resistance Movement") is a Palestinian Sunni-Islamic fundamentalist, militant, and nationalist organization. It has a social service wing, Dawah, and a military wing, the Izz ad-Din al-Qassam Brigades. It won the 2006 Palestinian legislative election and became the ''de facto'' governing authority of the Gaza Strip following the 2007 Battle of Gaza. It also holds a majority in the parliament of the Palestinian National Authority. Canada, the European Union, Israel, Japan, Australia, the United Kingdom and the United States have designated Hamas as a terrorist organization. New Zealand and Paraguay have designated only its military wing as a terrorist organization. It is not considered a terrorist organization by Brazil, China, Egypt, Iran, Norway, Qatar, Russia, Syria and Turkey. In December 2018, the United Nations General Assembly rejected a U.S. resolution condemning Hamas as a terrorist organization. Hamas leaders Ismail Han ...
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Dubai
Dubai (, ; ar, دبي, translit=Dubayy, , ) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the 7 emirates of the United Arab Emirates.The Government and Politics of the Middle East and North Africa. D Long, B Reich. p.157 Established in the 18th century as a small fishing village, the city grew rapidly in the early 21st century with a focus on tourism and luxury, having the second most five-star hotels in the world, and the tallest building in the world, the Burj Khalifa, which is tall. In the eastern Arabian Peninsula on the coast of the Persian Gulf, it is also a major global transport hub for passengers and cargo. Oil revenue helped accelerate the development of the city, which was already a major mercantile hub. A centre for regional and international trade since the early 20th century, Dubai's economy relies on revenues from trade, tourism, aviation, real estate, and financial services.
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