Arab Bank
Abdel Hamid Shoman, a native of Beit Hanina, founded the Arab Bank. His son, Abdul-Majid Shoman, succeeded his father as the chairman of the Arab Bank in 1974. In 2005, "The New York Times" reported on the death of Abdul-Majid Shoman and explained that "Mr. Shoman was from a prominent Palestinian family from the West Bank town of Beit Hanina. His father, Abdul-Hamid Shoman, established the first branch of the Arab Bank in Jerusalem in 1930. The bank was a symbol of Palestinian aspirations, representing a drive to create financial institutions for a new nation." According to Lawrence Joffe,"Often Shoman rescued Jordan from fiscal disaster. In 2000 he released funds to support the Jordanian dinar, which had collapsed after King Hussein died."