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With the Participation of His Excellency the Governor, Agreement Signed between Wakfet Izz Fund and the Ministry of Social Development to Support the Resilience of Poor Families
/ Categories: Banks, Memorandum

With the Participation of His Excellency the Governor, Agreement Signed between Wakfet Izz Fund and the Ministry of Social Development to Support the Resilience of Poor Families

April 5, 2020 - His Excellency the Governor of Palestine Monetary Authority, Mr. Azzam Shawwa, participated today in the signing of a joint cooperation agreement between Wakfet Izz Fund, represented by its Chairman, Mr. Talal Nasser al-Deen, and the Ministry of Social Development, represented by its Minister, Dr. Ahmed Majdalani, to provide relief of 1 million shekels to families and households affected by the Coronavirus crisis, in the presence of the Undersecretary of the Ministry of Social Development, Mr. Daoud Al-Deek.
Under the agreement, the Fund will donate 1 million shekels to be paid in cooperation with the Ministry of Social Development to 2,000 families affected by the current crisis from various governorates in the West Bank, Jerusalem and Gaza Strip.
His Excellency the Governor of Palestine Monetary Authority praised this agreement, which comes at a time when our people and our economy are most needed for such national, humanitarian and ethical initiatives in light of the great crisis of the outbreak of coronavirus worldwide, and thanked the Wakfet Izz Fund and His Excellency Minister Dr. Ahmed Majdalani for this blessed effort.
Mr. Shawwa paid tribute and thanks to the distinguished Government for its innovative national initiative to establish the Wakfet Izz Fund headed by Mr. Talal Nasser al-Deen, which would unite and focus cash donations, especially from businessmen in Palestine and the diaspora, to deal with the repercussions of the Coronavirus pandemic on the affected groups of our Palestinian people.
The Governor of Palestine Monetary Authority said that facing the current crisis required more solidarity and solidarity and support from all sides, calling on the banking sector to support the Wakfet Izz Fund, and to make more initiatives that contributed to supporting the efforts of all state institutions and citizens to overcome this health crisis. Mr. Shawwa praised the aid provided by the Palestinian banking sector and its taking on social responsibility, and its handling with high flexibility the instructions of Palestine Monetary Authority to implement the state of emergency since the beginning of the health crisis in Palestine. Mr. Shawwa pointed out that the financial donations made by banks and the Association of Banks in Palestine had so far exceeded 17 million shekels, to support the government and the health sector to cope with the coronavirus and reduce its spread in Palestine, and to support the affected segments of society during the disruption of many facilities and institutions, and to mitigate the economic consequences of these health crisis.
His Excellency Mr. Azzam Shawwa stressed that the banking sector bears the brunt of the economic repercussions resulting from this crisis, referring to the specific decisions and measures taken by Palestine Monetary Authority since the beginning of the crisis and followed by banks and lending institutions operating in Palestine, with the aim of facilitating things for citizens, stimulating the market and moving the economy while maintaining the safety of employees and citizens dealing with banking services, in line with the decision of the President to declare a state of emergency and the measures announced by the Government to address the spread of the coronavirus.
Mr. Talal Nasser al-Deen said that Wakfet Izz Fund considered this step part of its national and social responsibility to support the Palestinian people during the current crisis, and in line with the directives of the government and Palestine Monetary Authority to join hands with the aim of getting out of this crisis with the least possible damage.
Nasser al-Deen thanked the Palestinian Government for the wise measures it took to ensure that the disease receded and prevented its spread more widely under the direction of President Mahmoud Abbas, praising the important role played by Palestine Monetary Authority and the prudent measures it had taken in the face of the crisis, and also praising the commitment shown by the Palestinian people to the instructions of the official authorities, which shows high responsibility and awareness.
Nasser al-Deen pointed out that the Fund announced support of 2 million shekels, explaining that this is the first million to be implemented through the Ministry of Social Development, stressing that the remaining million will be disbursed through Palestinian Ministry of Health and the mechanism will be announced when the agreement is completed with them. For his part, Minister of Social Development Dr. Majdalani expressed his happiness during the signing ceremony that the first support initiatives of the Wakfet Izz Fund went towards the Ministry of Social Development to support poor families and families that were exposed as a result of the coronavirus crisis and the economic disruption in Palestine.
Dr. Majdalani thanked Wakfet Izz Fund for its generous contribution, which reflected the spirit of national and social responsibility of all those who donated to the Fund. He expressed his respect and appreciation for this noble stand, stressing his appreciation for Palestinian capital, which has consistently proved to be a national capital that supported the efforts of steadfastness, construction and liberation.
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