🇵🇸 Opening a Bank Account in Palestine
Honest assessment of business banking for foreign founders in Palestine.
Palestine has a functioning banking sector regulated by the Palestine Monetary Authority (PMA). Major banks include Bank of Palestine, Cairo Amman Bank, and Quds Bank. Corporate account opening requires the Certificate of Registration, MOA, passport copies, and a business plan. The banking sector uses the Israeli Shekel (ILS), Jordanian Dinar (JOD), and US Dollar (USD). International correspondent banking relationships exist but are more restricted than in neighbouring Jordan. Transfers may take longer due to compliance and political factors. Banks in Gaza have severely limited operations.
Tips for Success
- Have all company formation documents ready before applying — trade licence, articles of association, certificate of incorporation.
- Prepare a clear business plan or description of your business activities, even if the bank doesn't explicitly ask for one.
- Consider digital/neo-banks as your first account — they typically have faster onboarding for new companies.
- Apply to multiple banks simultaneously rather than sequentially — rejection at one doesn't affect others.
This content is educational and does not constitute legal or tax advice. Always consult a qualified professional for your specific situation. Data last verified March 2026.