Assistant to the Governor for Financial Stability Affairs Opens Training Program on Credit Information Systems in Gaza

Organized by the Palestinian Banking Institute for Group of Bank Employees

Assistant to the Governor for Financial Stability Affairs, Dr. Riyad Abu Shehadeh, inaugurated today a special two-day training program on credit information systems, organized by the Palestinian Banking Institute (PBI) at its headquarters in Gaza. The training will be attended by a group of banking employees and delivered by Mr. Ali Faroun, Director of Market Conduct Department at PMA. 

At the onset of his speech, Dr. Abu Shehadeh welcomed the participants and conveyed greetings and best wishes of H.E. Governor of PMA, Azzam Shawwa who, he added, is in full support of such training programs which fulfill his vision for bank staff training. Dr. Abu Shehadeh regarded the credit information systems as one of PMA’s most significant achievements, having become a fundamental tool for banks, lending institutions and some private sector companies to accurately research and analyze the credit risk of borrowers. This resulted, he said, in reducing credit risks and preserving the quality of credit portfolios, which, in turn, contributed to facilitating access to credit sources for all economic sectors. Ultimately, he noted, credit information systems have actively contributed to promoting financial inclusion and have consequently maintained financial stability and enhanced the banking system’s role in the process of economic development.   

Dr. Abu Shehadeh emphasized that the PMA consistently seeks to maintain the spirit of entrepreneurship in its work, that is why PMA-developed credit information systems are regarded as the best in the region. He added that the PMA recently received the Special Achievement in GIS (SAG) Award from Esri, the World-leading American Geographic Information System provider . The PMA was selected from over 300,000 eligible candidates; a PMA achievement that was a testimony of the advanced position that the Palestinian banking sector has achieved.
At the end of his speech, the Assistant to the Governor thanked the PBI for organizing the training program and wished the participants a successful and fruitful training that will reflect positively on their performance and job skills.   

Mr. Ali Faroun, delivered an elaborate presentation on the Credit Information Systems employed by the PMA, the relevant instructions and management mechanisms. He underlined the importance of their implementation in reducing credit risks, adding that these credit information systems have contributed significantly to the reduction of the volume of defaults in the credit portfolios. The default rate in the Palestinian banking system reached 2 per cent; the lowest in the region. 

The program commenced with a welcome speech from the General Manager of PBI, Mr. Iyad Jayyusi, and PBI’s Supervisor in Gaza, Mr. Yousef Al Mashharawi, in which they commended the PMA for its support for the Institute’s programs.   

It is worth mentioning that the PMA had organized several visits and training seminars in Gaza on the upgraded version of the credit rating system, out of its belief in the importance of capacity building for all bank employees in all bank branches equally.