Abdul Majeed Shoman

عبد المجيد شومان

1912–2005

Born: Beit Hanina, Ottoman Palestine

Domain: Business & Entrepreneurship

Recognition: REGIONAL

Biography

Abdul Majeed Shoman was born in 1912 in Beit Hanina, north of Jerusalem, the eldest son of Abdul Hameed Shoman, founder of the Arab Bank. Raised between Palestine and the United States, he was groomed to inherit leadership of the family institution at a moment when Arab finance was still in its infancy. After his father's death in 1974, Abdul Majeed assumed the chairmanship of the Arab Bank and guided it through one of the most volatile periods in Middle Eastern history. Under his leadership the bank not only preserved its position but expanded dramatically across the Arab world and internationally, becoming a cornerstone of the Jordanian economy and one of the most respected financial institutions in the region. Beyond banking, Shoman was a significant figure in Palestinian national life. He served as the first director of the Palestine National Fund, the financial arm of the Palestine Liberation Organization, placing the credibility and capacity of the Shoman financial legacy at the service of the Palestinian cause. He played a key role in Palestinian finances, politics, and philanthropy across decades. He greatly expanded the Abdul Hameed Shoman Foundation, established in his father's name, transforming it into one of the Arab world's leading patrons of science, scholarship, and culture, awarding prizes to Arab researchers and supporting libraries, education, and the arts. Abdul Majeed Shoman died in 2005. His stewardship ensured that the Arab Bank survived war, displacement, and political upheaval to remain a durable Palestinian and Arab institution, and his philanthropic work cemented the Shoman name as synonymous with both financial strength and cultural investment in the Arab world.

Why This Person Matters

He led the Arab Bank through decades of upheaval into a regional financial cornerstone, and as first director of the Palestine National Fund placed his family's financial legacy at the service of the Palestinian cause.