Launch of Palestine International Banking Conference 2014 in Ramallah Next Week

Under the Patronage of H.E. Prime Minister Rami Hamdallah

Under the patronage of H.E. Prime Minister Rami Hamdallah, the Palestine International Banking Conference 2014 takes place next week on 26^th March 2014 in Ramallah. Under the title “Financial Inclusion: A Path for Growth”, the upcoming conference is organized by the PMA in partnership with the International Finance Corporation (IFC) and the Association of Banks in Palestine (ABP) and brings together several Palestinian and international experts.

The conference will be opened by H.E. Dr Rami Hamdallah. In the opening speech, the Governor of the PMA will introduce the conference theme, significance and objectives and highlight the accomplishments of the PMA in relation to financial inclusion in Palestine especially given that the PMA  has become member of the Alliance for Financial Inclusion (AFI) since 2010 and has distinguished itself as the first of AFI members in the region to commit to the Maya Declaration to support economic and social empowerment of the non-banked population in Palestine. Moreover, the PMA has signed a memorandum of understanding with the Palestine Capital Market Authority (PCMA) to formulate the National Strategy on Financial Inclusion. The memorandum constituted the basis for the ensuing work, starting December 2013, to prepare   the National Strategy on Financial Inclusion. The initiative has secured a leading financial inclusion position for Palestine alongside Morocco as the two most-advanced countries in the Middle East having national financial inclusion strategies.

The conference sessions, seminars and interventions will tackle various subjects including women and youth in Palestine and challenges of financial inclusion, presentation of successful experiences in financial inclusion of women and youth, future prospects of financial inclusion in Palestine, the promotion of financial inclusion through financial initiatives and products and an identification of appropriate tools and methodologies.

The conference will focus on issues of interest to banks, lending institutions, international development finance institutions, deans of schools of economics and management in Palestinian universities and the financial sector in general, given the awareness of the PMA and the banking system of the importance of financial inclusion in Palestine as a crucial factor to invigorate  the national economy, generate employment opportunities, increase income and mitigate poverty.

It is worth mentioning that this is the fifth International Banking Conference to be organized by the PMA. Last year, the PMA held a conference in Jericho under the theme ‘Empowering Small and Medium Enterprises (SMEs) in Palestine through Enhancing Access to Finance’, which produced a number of important recommendations and attracted significant media interest.