Palestine Monetary Authority Organizes Meeting to Coordinate the Activities of the Child and Youth Banking Week 2017

Ramallah - Palestine Monetary Authority held today in Ramallah activities coordination meeting in cooperation with the Association of Banks in Palestine, the Ministry of Education and Higher Education, and the Education Program of the UNRWA. Marketing and public relations officers at banks and coordinators of the departments of the Ministry of Education and Higher Education took part in the meeting. The purpose of the meeting was to prepare for the activities of the Child and Youth Banking Week2017 in the West Bank and Gaza Strip. The meeting addressed the activities of the Child and Youth Banking Week2017, including bank staff trips to schools to be informed about bank services and hosting school students and their parents at banks during specific hours to inform them about bank services and products. The meeting also discussed ways of better communication to ensure achievement of the objectives of the Child and Youth Banking Week 2017 as well as the obstacles of previous Child and Youth Banking Week’ activities and how to overcome such obstacles. 

The Director of Market Conduct Department Mr. Ali Far’ounsaid the activities of the Child and Youth Banking Week obtained positive outcomes every year due to enhanced awareness and culture of banking among students. Mr. Far’oun affirmed the significance of aggregate joint efforts throughout previous months with banks and schools to develop and ensure the success of the Child and Youth Banking Week activities. Mr. Far’oun thanked the Ministry of Education and Higher Education, the Association of Banks in Palestine, the UNRWA, and the banks for their constant cooperation. 

Mr. Sadiq Khdoor, Director General of Students’ Activities at the Ministry of Education and Higher Education, said the Child and Youth Banking Week was a priority activity of the Ministry of Education and Higher Education since it educated children and youth about banking and developed students’ knowledge to decide about their future in education. Mr. Khdoor said the Child and Youth Banking Week 2017 must have new ideas in theory and practice to ensure the highest advantages for students. UNRWA representative Mr. Hani Alomari praised the work of Palestine Monetary Authority in raising awareness about finance among students through the Children and Youth Money Week. Mr. Alomari said it was important to improve and continue cooperation between the UNRWA and Palestine Monetary Authority to support such activities.

Mrs. Irene Saadeh, the Director of Public Relations and Communication Department at PMA, addressed in details the activities and launching of the Child and Youth Banking Week 2017. She stated that the Child and Youth Banking Week 2017 would be different since it would have an exhibition of banking services for students to know about banking services and how to obtain such services.

The findings of the analysis of the post activity questionnaire of the previous Children and Youth Money Week, which aimed to measure the impact of the activities on students’ knowledge of banking and banking culture, showed that 88.4% of the respondents (students) had better knowledge of the work of banks, 83.6% had improved knowledge of the advantages of the services banks delivered, and 75% of the respondents had enhanced knowledge of the party in charge of regulating the work of banks and the regulatory and supervisory role of Palestine Monetary Authority with respect to banks. 

The findings of the questionnaire also showed enhanced awareness and culture about banking among the targeted students about the services banks delivered, including types of bank accounts. The students also improved their knowledge about the currencies used in Palestine and that the Palestinian pound was the Palestinian currency used before the Israeli occupation of Palestine.