Arab Islamic Bank Launches the SWIFT Digital Hub with the Global ISO20022 Standard

Arab Islamic Bank Launches the SWIFT Digital Hub

Becoming the First Bank in Palestine to Comply with the Global ISO20022 Standard

Ramallah – As part of its ongoing efforts to strengthen digital transformation and align with international banking standards, the Arab Islamic Bank has completed the deployment and live activation of the SWIFT Digital Hub (ISO20022) within its core banking environment. With this milestone, the bank becomes the first financial institution in Palestine to achieve full compliance with the mandatory Native ISO20022 standard adopted by the SWIFT network for banks worldwide.

This achievement supports the bank’s strategy to enhance its technological infrastructure and develop its digital channels in line with the latest global standards for cross-border payments. The ISO20022 standard represents the next generation of financial messaging protocols, offering higher levels of flexibility, security, data accuracy, and faster processing of transfers and banking transactions.

Mr. Hani Nasser, General Manager of the Arab Islamic Bank, expressed pride in this accomplishment, stating:

“We are proud at the Arab Islamic Bank to be the first bank in Palestine to comply with the SWIFT ISO20022 standard and activate the new system on the live environment. This milestone reflects our deep commitment to developing our digital systems in accordance with the highest international standards and strengthens our readiness to deliver faster, more efficient, and highly reliable financial services to our clients locally and internationally.”

He added that the live activation of the new system will further enhance data quality in international transfers, improve transaction speed and reliability, and enable seamless integration with global financial institutions, reinforcing the bank’s competitiveness and leadership in digital transformation.

Mr. Nasser also emphasized the role of the bank’s teams in achieving this success:

“This accomplishment is the result of the dedication and high professionalism demonstrated by our teams, who worked tirelessly to deliver this significant technological advancement. We extend our sincere appreciation to all employees, especially those who contributed directly to the implementation and success of this strategic project. Their collective effort embodies the spirit of commitment and professional excellence that we proudly uphold at the Arab Islamic Bank.”

With this achievement, the Arab Islamic Bank reinforces its leading position in the Palestinian banking sector and affirms its full readiness for the global transition toward the ISO20022 standard, which is becoming the foundation for the future of digital payments and international banking operations.

This project comes as part of a broader portfolio of digital initiatives undertaken by the bank, which include upgrading core banking systems, enhancing data-center capabilities, expanding and advancing mobile banking services for individuals and corporates, and strengthening the bank’s cybersecurity infrastructure. The Arab Islamic Bank continues to invest in modern technologies to deliver an advanced, seamless, and customer-centric banking experience that meets clients’ needs and supports their future aspirations.

It is worth to mention that the Arab Islamic Bank recently obtained the ISO/IEC 27001 Information Security Management certification, in addition to the PCI DSS certification for global card data security standards. These certifications underscore the bank’s commitment to the highest levels of cybersecurity and data protection and reflect its readiness to implement emerging international standards across its digital operations.