The Palestine Monetary Authority, in collaboration with CARE International, Organizes a Workshop on Funding Sources in Nablus

Nablus,

The Palestine Monetary Authority (PMA), in collaboration with CARE International, organized an awareness workshop on access to funding sources in Nablus Governorate, with the participation of about thirty women and youth entrepreneurs from Nablus and Jenin governorates, as well as representatives from few banks operating in Palestine.

In his welcome speech, Eyad Zeitawi, Executive Director of the PMA's Financial Stability Group, stated that the workshop is part of a series of meetings aimed at exploring financing options, developing, and supporting projects, particularly small ones, and enabling women and young entrepreneurs to access financing provided by banks and lending institutions. This will help to ensure the growth and sustainability of these initiatives, as well as the creation of new employment opportunities, therefore boosting and growing the Palestinian economy.

He pointed to the PMA’s efforts to improve financial inclusion and support entrepreneurs, highlighting the financial inclusion account, e-wallet services, the Monshati Platform, the Estidama Fund, and the Regulatory Sandbox, as well as the adoption of numerous laws and instructions that will contribute to creating an environment supportive of creativity and facilitating business and financial services.

In another welcoming speech, Ms. Buthaina Mizyed, Gender Coordinator at CARE International, touched on CARE's Duroob project, which aims to promote the economic empowerment and prosperity of women and youth (both female and male) with low- and average-income in the West Bank and Gaza Strip. 

She added that CARE and its partner seek to achieve the objectives of the Obader project by working to improve the regulatory and enabling environment for entrepreneurship, and working to address the barriers and obstacles that hinder the economic empowerment of women, youth and young women, by supporting economic empowerment institutions, service providers and actors from the public and private sectors to provide better services for male and female entrepreneurs, consider gender differences, and reduce the obstacles they face. Meanwhile, CARE and its partners are striving to provide women and adolescents with the skills and opportunities they need to establish, operate, and expand sustainable enterprises.

Mr. Muhannad Salous, Chief of the PMA's Financial Inclusion Division, gave a presentation on the efforts of the PMA in promoting financial inclusion in Palestine and the delivery of banking services to all segments of society, most notably electronic payment services and modern technological means to complete financial transactions.

Mr. Mahmoud Barhoum, who oversees the Estidama division, also explained the "Estidama" fund, supervised by the PMA, and its funding programs. Among these programs is one dedicated to providing funds for small, very small, and micro enterprises owned by women, youth, and marginalized groups, and the mechanism for obtaining grants for projects through the fund.

The workshop included working groups with the participation of women entrepreneurs, the PMA, and banks. A discussion took place between the participants, speakers, and bank representatives on the mechanisms, conditions, and guarantees to be provided to obtain funds through the Estidama Fund's microenterprise program. The attendees' inquiries were answered, and solutions were provided to them to facilitate their access to funding sources.

It is worth mentioning that this event is part of a series of awareness workshops organized by the PMA in collaboration with international institutions and civil society organizations with the aim of enhancing women's access to financial inclusion services and gender-sensitive financial and banking services.