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Palestine Monetary Authority and the Association of Banks in Palestine Organize a Meeting with Banks’ Marketing Managers on the Sustainability Fund
/ Categories: Banks, PMA, Meetings

Palestine Monetary Authority and the Association of Banks in Palestine Organize a Meeting with Banks’ Marketing Managers on the Sustainability Fund

Ramallah and Al-Bireh Governorate – Palestine Monetary Authority and the Association of Banks in Palestine organized a meeting on Sustainability Fund, which was launched by Palestine Monetary Authority to support the economic sectors. Public relations and marketing managers from banks participated in the meeting.

The aim of the meeting was to discuss mechanisms to raise public awareness of the Sustainability Fund and its importance and how segments of society can benefit from its programs.

Bashar Yassin, the General Manager of the Association of Banks in Palestine, welcomed the participants. He stressed the importance of the Sustainability Fund in supporting sectors affected by the Coronavirus pandemic and the role of banks in contributing to the spread of awareness of the Sustainability Fund to support the sectors, which promoted economic development in Palestine. Yassin pointed out to the need to strengthen joint cooperation between the components of the banking sector in order to serve and develop the Palestinian economy.

Irene Saadeh, the Director of the Public Relations and Communications Department at Palestine Monetary Authority, explained that after the redevelopment and restructuring of the Sustainability Fund, there were wider segments of the society that could benefit from the Fund and its programs, particularly microbusinesses, with a funding ceiling of $10,000 at no cost, with the aim of effectively affecting the development of the Palestinian economy in the aftermath of the recent crises.

Mrs. Saadeh referred to the directives of the Governor of Palestine Monetary Authority Dr. Feras Milhem that banks through their marketing departments should educate the public about the Sustainability Fund, and its role in providing funding to the economic sectors and guiding the target groups on how to obtain appropriate funding for them to contribute to the recovery of their businesses, or to start establishing and implementing ideas for new businesses, noting that a campaign had recently been launched to raise awareness of the Fund's programs through social media.

Mr. Mahmoud Barhoum of Palestine Monetary Authority's Supervision and Inspection Department explained the developments introduced by Palestine Monetary Authority on the First Sustainability Program, the development of the Sustainability Fund to meet the requirements of the private sector and the inclusion of new categories of funding through the financing of the Fund, especially after raising the volume of the Fund to $435 million.

The attendees agreed on the joint mechanisms of action that would be initiated to deliver the program's services to all segments of society in the various governorates of the country.

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