Bank of Palestine signed an agreement with the Ministry of Social Development and the Wakfet Izz Fund to provide assistance for families in need registered at the Ministry of Social Development across the Palestinian governorates. The bank donated the amount of one million Skekels as part of the donations made by Bank of Palestine Group to support to the health and relief sector amidst the spread of the Coronavirus in Palestine.

The agreement was signed at Bank of Palestine’s headquarters in the city of Ramallah in the presence of Dr. Ahmad Majdalani, the Minister of Social Development, Mr. Azzam Al Shawa, the Governor of the Palestinian Monetary Authority, Mr. Hashim Al Shawa, the Chairman of Bank of Palestine Group, Mr. Talal Nasereddin, the Chairman of Wakfet Izz Fund, Mr. Rushdi Ghalayini, the General Director of Bank of Palestine, and Mr. Dawud Dweik, the Secretary of the Ministry of Social Development. The agreement forms part of the efforts conducted by the government, the private sector and the public sector to confront the Coronavirus crisis and prevent its spread across Palestinian cities, as well as provide support, resources and a social safety network for affected sectors within society.

Dr. Ahmad Majdalani expressed his enthusiasm towards the donations and support offered by Bank of Palestine Group, which will partially contribute to fulfilling the needs of two thousand families that were affected by the spread of the Coronavirus and the suspension of the economy.  Majdalani expressed his pride in the initiatives launched by the bank, stemming from its national and social responsibility.

His Excellency Mr. Azzam Al Shawa, the Governor of the Palestinian Monetary Authority, commended the signing of such an agreement, pointing out that the Palestinian banking system proved itself repeatedly in standing at the frontlines to protect its people and the Palestinian economy. According to Al Shawa, “our banking system has not once hesitated to provide all that is necessary, from a national and humanitarian perspective, during times of crisis.” His Excellency also commended the support provided by the Palestinian banking sector in bearing its social responsibility and additional burdens resulting from the current health crisis. 

Mr. Hashim Al Shawa stressed that the support provided by the bank forms part of the Group’s contribution to support the resistance of citizens and combat the crisis. He pointed out that the allocated funds that will be dispensed simultaneously with the Group’s efforts to reach other sectors within society that are in most need during these difficult circumstances.  

Mr. Talal Nasereddin, the Chairman of Wakfet Izz Fund, stated that his team is conducting a great deal of efforts to raise funds from the private sector, civil society and Palestinians in the diaspora. According to Nasereddin, the Fund managed to raise around $14 million, but the needs remain high, and therefore “I call upon all private sector organizations, merchants and affluent individuals to stand together and give a helping hand. Nasereddin expressed his gratitude and appreciation for the efforts and support provided by Bank of Palestine Group during these difficult circumstances.