“Palestine Islamic Bank” Participates in the Activities of Child and Youth Banking Week

Palestine Islamic Bank participates in the activities of Child and Youth Banking Week, sponsored by His Excellency, the Governor of Palestine Monetary Authority, Azzam Shawwa, by engaging in various activities with the students and their families.

The General Manager of Palestine Islamic Bank, Bayan Qasem, stated that: “targeting financial and banking awareness programs to children and youth is deemed as an investment in the future, as they raise a generation capable of benefiting from the banking system optimally, the thing which serve and enhance the national economy”, considering the bank’s contribution to the week’s activities as complementary efforts in the promotion and identification of Islamic banking among different groups in society.

In addition, Qasem affirmed the bank’s determination to keep pace with the public expectations through the process of continued development of products and services, in order to ensure providing innovative financial services and creating non-traditional access means which enable customers to get a unique banking experience, while fully adhering to the local and international regulations and industry standards.

In this context, Qasem referred to the agreement signed by Palestine Islamic Bank and International Temenos Company, with the objective of providing a modern, digital banking platform, which enables the bank to address all aspects of the next generation of Islamic banking in a way that meets the bank’s needs which include providing banking services to individuals and companies. Qasem also pointed out that such platform shall help the bank in achieving its strategic objective of simplifying its systems’ structure and promoting the digital experience for customers.

Qasem expressed appreciation for the efforts paid by Palestine Monetary Authority and all partners, for the success of the banking week’s activities, affirming the significant impact of such programs in the development of public perception of the banking and financial sector.

Moreover, Qasem stated that the bank contributes to the activities of the week in a number of ways, first is the virtual branch established by the Monetary Authority in Nablus and Gaza, whereas the students, who were trained by the bank, provide an explanation of the nature of Murabahah and its application in Islamic banking, in addition to the explanation of the concept of using technology in financial work (FinTech), and the nature and advantages of safe deposit boxes. Furthermore, the bank organizes field visits to several schools, through which an explanation is provided to students about banking system, also, the bank devotes the last working hour to receive and host children, youth and their parents who wish to know more about the nature of the banks work, in accordance with the instructions of Palestine Monetary Authority.

It should be noted that the Child and Youth Banking Week is organized by Palestine Monetary Authority in cooperation with the Association of Banks in Palestine, Palestinian Network for Small and Microfinance (Sharakeh), Ministry of Education and UNRWA Education Program.