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A workshop for Education Sector Supervisors on Increasing Banking Awareness for School Students

A workshop for Education Sector Supervisors on Increasing Banking Awareness for School Students

Held by Palestine Monetary Authority in Collaboration with the Association of Banks in Palestine

Gaza 19/9/2022

The Palestine Monetary Authority (PMA) and the Banks Association in Palestine (BAP) held a workshop today, in Gaza, for over thirty supervisors in the education sector on providing basic banking awareness to school students. The event was held in collaboration with the Ministry of Education and the Education Program of the United Nations Relief and Works Agency for Refugees in the Near East (UNRWA) and was attended by representatives from Gaza Strip banks.

Dr. Ra’fat Al-Araj, Regional Supervisor of Control department at the PMA in Gaza Strip, opened the workshop by welcoming participants and attendees and emphasized the importance of banking awareness, particularly for school students. He provided an overview of the PMA including its mission, the sectors it supervises, and comptroller role.

For his part, Mr. Ahmad Al-Shami, Director of the Cultural Department at the General Directorate of Student Activities at the Ministry of Education, praised this introductory and awareness meeting, which sheds light on a banking application, being one of the outputs of the Banking Week 2022 activities.

Mr. Al-Shami emphasized the importance of collaborating with the PMA and the ABP to introduce students to banking services, as banks are one of the main pillars of the Palestinian national economy and play a significant role in facilitating financial transactions.

He thanked the PMA and the ABP for this collaboration, expressing pride in it, and referring to the successful experience of the Child and Youth Banking Week, which was launched by the PMA and the ABP on March 16th of each year, in collaboration with the Ministry of Education and the UNRWA Education Program.

Mr. Bashar Yassin, Director General of the ABP, gave a comprehensive presentation on the association, the nature of its work, and its activity, as well as an overview of the Palestinian banking sector, pointing to the most important consolidated financial statements until the end of the second quarter 2022, where assets amounted to $ 21 billion, customer deposits $16.2 billion, direct credit facilities $10.2 billion, and equity $2.2 billion.

Mr. Yassin pointed out the social responsibility contribution of banks operating in Palestine, which amounted to approximately 5 million US dollars at the end of 2021 and was allocated to various sectors such as health, education, environment, children, and women's empowerment. He stressed the importance of holding ongoing awareness workshops to raise awareness and educate the younger generation financially.

Mr. Muhannad Salous, the Chief of Financial Inclusion Division at the PMA, spoke about the importance of banking and financial awareness for the children and youth, because this age group comprehends information effectively, pointing to the importance of banking awareness in the strategy of financial inclusion and its positive reflection on financial stability and economic growth in Palestine.

He accentuated the importance of following up on the outcomes of the Child and Youth Banking Week 2022, which this year resulted in the launch of the "Masrifi" application and website to introduce children and youth to the services provided by the banking sector under the slogan “learn, save, earn.”

An explanation of “Masrifi” application user guide was provided, including a description of the registration process, application stages, contest, and prizes.

The workshop included participant discussion and questions, as well as suggestions and ideas for the application's development, expansion, and use.

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