A clarification issued by the Bank of Palestine regarding the report of the French newspaper ‘Le Monde’.

Ramallah - Ma'an - In light of what was published by the French newspaper "Le Monde", today, Saturday, about the nature of what happened in the branches of the Bank of Palestine in Gaza City, the bank would like to clarify to Palestinian public opinion and to its shareholders and esteemed customers that the news is not accurate about the extent of the losses that befell its branches in Gaza strip. The bank explained that it is too early to assess and determine the extent of the damage and losses that the bank has been exposed to in the sector. The bank indicated that it has taken all necessary precautions, including building provisions to confront the most difficult possible scenarios that include the loss of some of the bank's assets, such as buildings, cash, and the credit portfolio, stressing that it has a high financial solvency ratio that meets the requirements of the Monetary Authority and exceeds the banking standards issued by the Basel Committee on Banking Supervision. The bank also has Excellent fi nancial indicators and has sufficient liquidity to enable it to meet clients' needs. The bank stressed that it continues to provide its work and services in the Gaza Strip despite the difficult circumstances and the destruction of its headquarters, and that it is working on developing the necessary operational plans to restart the operation of the demolished branches and provide services to customers once the war stops, and that it will not hesitate to provide its services to our steadfast and patient people in the Strip. Source: Maan News Agency