PMA and Palestinian Ministry of Interior Sign a Memorandum

Ramallah, July 7th, 2013, Dr. Jihad Al Wazir- Governor of PMA, and Dr. Said Abu Ali-Minister of Interior; signed a memorandum of understanding for organizing the activities of the civil organizations and associations that are practicing lending works, and adjusting their activities according to the related rules and regulation.

The agreement took place within the efforts of the PMA and the Ministry of Interior for organizing and supporting the works of the lending sector to achieve their objectives of offering the financial services for the marginalized and disadvantaged groups, achieving the financial inclusion, contributing in the reduction of poverty and unemployment rates, and obtaining the real sustainable development.

It is worth mentioning that the PMA started organizing the specialized lending sector after issuing the Banking Law, and the Microfinance Institutions' (MFIs) Licensing and Supervising System in 2011; PMA keen to play its supervisory role due to the international best practices for maintaining the safety of these organizations and achieving the financial sustainability.