IslamicFinance.de

The Palestine Exchange (PEX) obtained the unaudited interim condensed financial statements from Palestine Islamic Bank( ISBK). Their disclosure has been published on the PEX website and contains: the Statement of Financial Position, the Income Statement, Changes in Equity Ownership, and the Statementof Cash Flows.
The company also presented information regarding management, issued shares, material changes and significant events that may have disturbed financial performances during the first nine months of the year.
Furthermore, ISBK has procured draft financials of the first half of 2011 that havenot been reviewed by their independent external auditor, and the Palestine Monetary Authority (PMA) has not approved them.

The Palestinian central bank is attracting local banks to its first sale of Islamic bills.
Palestine Islamic Bank will submit a bid for as much as $10 million, and Arab Islamic Bank said it probably will participate.
Palestinian Authority Prime Minister Salam Fayyad is seeking to expand Islamic finance to reduce reliance on aid from the U.S., Europe, Saudi Arabia and others as the territory starts building institutions for a future state.