Bank of Palestine (BoP) sponsored the "Cycling4Gaza" initiative that took place earlier this month in Jordan. The initiative, which was "founded by young people whose mission is to raise awareness about the situation in Gaza and to raise funds for reputable and reliable non-profit organizations working in the fields of healthcare and education in Gaza", does so by mobilizing people from all over the world to get in a yearly cycling challenge. The funds will be used to support three children's mental health projects run by the Welfare Association. This year, 26 international cyclists led the cycling challenge from Aqaba to the Dead Sea over three continuous days. The group was able to raise £110,000, with which they will be supporting projects that will provide support to 430 children with mental and physical disabilities.
This sponsorship is part of Bank of Palestine’s commitment to Corporate Social Responsibility (CRS). BoP believes that true progress begins with social and economic development on a community level. This has been our belief and commitment since our founding. Therefore we have been the leaders in Corporate Social Responsibility (CSR) in Palestine dedicating around 5% of our net profit to CSR. In 2010 alone, BoP’s CSR budget reached around $1.5 million, and covered the following sectors: Youth and sports, education, health, arts, culture, tourism, and other humanitarian work. This year, BoP was recognized by the Association of Banks in Palestine as the “Largest contributor to CSR among Banks in Palestine.”