PMA Governor and Minister of Education and Higher Education launch the Children and Youth Money Week in 2017 activities in press conference

H.E. Mr. Azzam Shawwa, the Governor of PMA and H.E. Sabri Saidam, the Minister of Education and Higher Education announce the start of the Children and Youth Money Week in 2017 activities in a press conference in Ramallah. Mr. Mohammad Al Barghouti, the Chairman of the Board of Directors of the Association of Banks in Palestine, attended the press conference, as well as Mr. Wahid Jubran, West Bank Deputy Chief Field Education Programme of the UNRWA and representatives from banks, lending institutions, economic associations, and academics. 

H.E. Mr. Azzam Shawwa welcomed the guests and stated that the Money Week aimed to enhance financial and banking awareness in the society especially among children and youth to be ready for accessing the services of the financial and banking institutions in the future. Mr. Shawwa briefed the guests about PMA’s banking educational and awareness activities within the framework of promoting financial inclusion, providing equal access to the community to banking services at reasonable costs in order to improve their capacities and their living conditions and the economic and social development.

H.E. Mr. Azzam Shawwa announced Thursday, March 16, 2017 as National Savings Day. The Money Week is conducted in Palestine for the first time for PMA to promote the concept of savings across the Palestinian community for its vital place in investment to improve people’s lives and reduce poverty and unemployment and boost economic development, according to Mr. Shawwa. PMA Governor also urged people to benefit from banking programs and products prepared by banks for the National Savings Day. 

H.E. Mr. Azzam Shawwa pointed out PMA’s efforts to transform into a central bank thanking the President for his directives in this respect. The transformation will be a quality leap in the discourse of issuing national currency in due course, said PMA Governor.

H.E. Sabri Saidam, the Minister of Education and Higher Education, said in his speech before the guests that school cafeterias would gradually circulate Palestinian pound as of today, in coordination with PMA. The purpose is to strengthen belonging and allegiance among students and to be proud of the genuine Palestinian currency. Dr. Saidam affirmed working together with PMA and banking institutions. The Money Week is within the framework of such cooperation between the Ministry, PMA, and the banking institution. The Minister encouraged learning about banking at schools so that students would acquire the knowhow of accessing banking services and transactions. Dr. Saidam also stated that the society needs to be free from the occupation to avoid external economic agendas. Mr. Mohammad Al Barghouti, the Chairman of the Board of Directors of the Association of Banks in Palestine said in his speech that the active participation of the banking system in the Money Week was part of the corporate social responsibility to build the capacity of children and youth to understand financial and banking terminology and banking services for the future. 

Mr. Wahid Jubran, West Bank Deputy Chief Field Education Programme of the UNRWA, described the activity as model of cooperation and coordination and integration of roles between the banking system and educational institutions. He appraised the outcome of questionnaires analysis of the last Money Week where school children expressed more banking knowledge and of PMA and its role and banks’ efforts to economic growth. 

Mr. Shawwa, Dr. Sabri Saidam, Mr. Mohammad Al Barghouti, and Mr. Wahid Jubran then rang the bell announcing the opening of the Money Week and cut the ribbon to open the virtual bank and toured the site with the students. 

The Money Week activities, which will go on from March 12 to March 16, includes a virtual bank, educational visits to banks by students and families to be introduced to banking functions and services to clients, bank representatives visits to schools, and distribution of information pamphlets.

PMA organizes the Children and Youth Money Week annually. This has been an initiative of PMA and partners since 2011. The organization of this event usually coincides with the activities of the Global Money Week, which takes place every year on March 15 and aims to enhance the financial and banking culture in the society especially among children and youth and prepares them to wisely plan their financial future.