Palestinian Aqsa bank to open midyear

A Jordanian official said the Palestinian Aqsa bank is expected to begin banking activities in the Palestinian self-rule areas in the middle of the current year.

The general manager of the Jordanian Islamic Bank, Mousa Shehada, who owns a major share in the new venture said the bank's activities will submit to Islamic legislation rules.

He said the administration is getting ready to supply the main branch with the necessary machines and equipment.

He stated that the Jordanian Islamic Bank is one of the major establishers of the Aqsa bank, which has a capital 20 million dinars and in which Islamic, Arab and Palestinian funds had participated.