Bank of Palestine held a ceremony on the occasion of opening its new branch in the town of Bani Suhayla in Khan Younis. The ceremony was attended by Governor of the Palestine Monetary Authority (PMA) Dr Jihad Al-Wazir, Vice Chairman of the Board Ma’moun Abu Shahla, members of the Board of Directors, Deputy General Manager Al Radwan, Bank of Palestine Assistant Director Manager, heads of departments and divisions at the PMA, and officials from the private sector, managers of companies and organizations in Khan Younis district as well as elders and elected figures from Bani Suhayla.
With the opening of Bani Suhayla branch Bank of Palestine has now a well-diversified branch network of 50 branches dispersed in cities and villages throughout Palestine. The branches are equipped with the state-of-the-art financial and banking services. Bani Suhayla branch is the first branch in Gaza that complies with the new standard design of Bank of Palestine braches in Gaza.
In his opening speech, Abu Shahla welcomed the attendees expressing delight for opening the new branch, which will provide services that meet the needs of individuals, companies and merchants in Bani Suhayla area. He stressed the significance of the geographical and commercial location of the town calling at the same time upon national institutions to invest and provide services in all aspects of life.
In addition, Abu Shahla briefed on Bank of Palestine work progress since its inception 50 years ago. In spite of the harsh political and economic circumstances Bank of Palestine continued to grow, expand and develop a clear vision and strategy, Abu Shahla added. Moreover, Bank of Palestine managed to create a solid foundation for developing its banking services and programs, as well as contribute to social and economic development.
According to Abu Shahla, Bank of Palestine will seek during the next few years to open more branches and offices in rural areas in cooperation with the PMA, believing in the importance of long-term investment in Palestine. Bank of Palestine has indeed enhanced its services and programs with the aim of incentivizing Palestinian economy and developing the banking sector in Palestine. The services and programs include the establishment of a special unit for the support of micro, small and medium enterprises that are at the core of Palestinian economic development, constituting 90 percent of the number of establishments and employing more than 87% of the labor force in Palestine. Bank of Palestine is developing different women empowerment programs to involve women in the labor market and enhance their contribution to economic growth. Furthermore, Bank of Palestine has launched the green loans programs that aim to finance environment friendly projects.
For his part, PMA Governor Dr Al-Wazir expressed pleasure for opening the new branch, stressing the achievements of Bank of Palestine during the past years and its distinguished contribution to economic and social development.
Al-Wazir also spoke about enhancing the banking system through the establishment of the Palestine Deposit Insurance Corporation which will cover 93 percent of total depositors in the banking sector with a limit of USD 10,000.
At the end of the ceremony an elderly elected senior citizen from Bani Suhayla Abu Sami Abu Zarife extending gratitude at the same time to Bank of Palestine for opening its new branch which has facilitated the banking and commercial transactions of citizens. Abu Zarife also thanked the PA for its continuous support to the banking sector.