A Third Custodian Bank at Palestine Exchange

Wednesday, 9 December 2015

Palestine Exchange and Bank of Palestine signed a custody agreement by which the Bank of Palestine becomes the Third custodian bank active on the PEX.

This agreement allows the Bank of Palestine to provide custody services to international and local investors. These include maintaining securities under its custody, organizing and maintaining customer’s registries, receiving the value of sold securities and payment for purchased ones, sending periodic reports to customers regarding their portfolios and cash accounts and informing customers about issuer actions relating to dividends.

The Bank of Palestine will be working in addition to Cairo Amman Bank and HSBC Middle East, which will stop its operations in June 2016.