The Republic Bank (RB) said on Monday it is opening a new branch in Jerusalem’s Old City and plans to expand its operations in Bethlehem, Bethlehem’s commercial center.
The branch, which opened last month, will offer customers the opportunity to trade gold and silver coins as well as coins and gold bars, RB Deputy Chairman Ahmad Abu Ghassan said on his Twitter account.
The bank said the move is part of the bank’s “commitment to supporting the development of the economy and the people of Palestine” by investing in the Palestinian economy.
Abu Ghassar said the new branch will serve customers who are looking for a quick and convenient way to trade for the Palestinian currency and gold.
“The new branch is an important step in supporting the growth of our country’s economy,” he said.
“We are excited to open our first branch in the Old City of Jerusalem and to extend our operations to the West Bank and Gaza Strip.”
The new bank, which is currently in the process of establishing branches in Jerusalem and the West Wall, will provide “an attractive, convenient, and reliable solution for customers,” according to a statement.
The bank said it is aiming to open branches in six cities by 2021.
The Republic Bank is one of the three branches in the West that has branches in occupied East Jerusalem.
The other branches are located in Ramallah, Nablus, and Bethlehem.
The branches operate under the jurisdiction of the Palestine National Bank, the Palestinian Central Bank and the Central Bank of Palestine.