Bank of Palestine earned the award for best bank in Palestine in the field of financial inclusion for the year 2017, among the awards that were granted by the Association of Arab Banks to Arab financial institutions and entrepreneurship during 2017. The bank was granted this award to celebrate its achievements during the last few years, and its leading efforts in developing and expanding banking services that respond to the needs of clients on a local and regional level, through a comprehensive system of universally recognized professional ethics and values.
The award was granted during a ceremony that was held in the Jordanian capital, Amman, under the patronage of Her Highness Princess Taghreed Muhammad, with the participation of several businessmen and women, chairpersons, and general managers of banking institutions in the Gulf region, the Middle East and North Africa, as well as pioneers in the Arab banking sector, journalists and media persons. Mr. Mr. Rushdi Al Ghalayini, Deputy General Manager of Bank of Palestine, received the award. The ceremony was also an opportunity to network and exchange experiences, and a standard for the classification of banks and banking institutions, and the quality and variety of services provided to clients of financial institutions in the Arab World.
The award crowned the accomplishments and great developments achieved by Bank of Palestine in the field of financial inclusion, and the sustainability, expansion and development of financial and banking services, and the launch of various programs aimed to empower Palestinian women, in addition to the creation and development of new technological services.
Mr. Hashim Al Shawa, the Chairman and General Manager of Bank of Palestine, expressed his enthusiasm about the receipt of this award in the field of financial inclusion for the second time, whereby this award was granted to the bank last year by the Banker magazine, ensuring that the bank is heading in the right direction in terms of developing unique services that accompany the various technological developments, social changes and the increasing social and economic needs of various groups within the community, from individuals to companies and organizations. Al Shawa pointed out that the ceremony is also an important opportunity to announce that Palestine and its financial institutions have become empowered by their services, achievements and distinctions and are now able to operate at the level of international banks.
Al Shawa also pointed out that during the last few years, the bank made a great deal of efforts to achieve financial inclusion. It continued to build a distinct system od programs and procedures, and services that achieve comprehensive sustainability for Palestine’s society and economy in two major fields: women empowerment and the development of electronic and technological systems that enabled bank clients to obtain many services using the Banki application on their smart phones, which allows them to view their accounts, conduct banking transactions, make transfer, request services, and pay bills, installments and loans.
The bank also contributed to the development of Electronic Payment Systems in Palestine through the establishment of PalPay Company in 2011. Through the electronic payment system, more than 6,000 points of sale were set up in various restaurants, hotels, pharmacies and large stores, allowing clients and citizens alike to pay their bills and shop and gain points using any of their plastic cards without the need to carry a lot of cash. Millions of transactions are executed every year using PalPay. Al Shawa pointed out that the persistent efforts and continuous development in the field of electronic services are a translation of the bank’s ongoing strategy whose most important pillar is to anchor the bank’s presence and leading role in the field of electronic services.
According to Al Shawa, the bank took huge steps at the level of women empowerment, and stood out after launching the Felestineya program for the empowerment of Palestinian women, internally and externally, starting with raising their banking awareness, developing their capacities to manage various projects through the Mini MBA program, and giving them more incentive through the “Best Business Plan Competition.” The bank also launched various funding programs that respond to the financial and banking needs of Palestinian women and assist them in starting their projects through the development of credit facilitations to help them start their own business. These programs not only meet the needs of Palestinian women, but are also compatible with their ability to pay loans through the “Felestineya” Gold Loans, the “Felestineya” Gold Loans for Women in Business, and the “Felestineya” Collateral Free Loan for Women in Business.
Internally, Bank of Palestine increased the number of its employees. Since 2008, the number of female employees doubled from 17% to reach approximately 35% at the end of 2016. The bank also managed to promote the role of women in senior management positions and promoted its customer care department by recently establishing a large team to efficiently and effectively respond to the needs and expectations of clients.
Al Shawa stressed that the vision and mission of Bank of Palestine entail the establishment of a large national economic edifice that every Palestinian takes pride in. This edifice depends on the loyalty of its customers and their trust in its products and services, not to mention the loyalty and support of its employees who are the pillar behind its continuous success. Al Shawa also stressed the importance of continuing the process of real building and development of Palestinian society and the national economy through the development of financial products that promote financial inclusion in Palestine.