Palestine Islamic Bank Holds a Seminar on “Islamic Banking and Financing” in cooperation with Salfit Chamber of Industry and Commerce

Palestine Islamic Bank, in cooperation with Salfit Chamber of Industry and Commerce, held a seminar on “Islamic Banking and Financing”, last Tuesday at Salfit Public Center Hall.

Whereas, Dr. Ali Sartawi, Chairman of the Shari'a Supervisory Board, Subhi Munir, Director of Badia Branch and Shouqi Abu Baker, Director of Salfit's Office, had attended the seminar on behalf of PIB; whilst the attendees on behalf of the Chamber of Industry and Commerce consisted of Chamber Director Mr. Fawaz Shihadeh, Board member Mr. Ziyad Amer, General Manager Mr. Yousef Rayyan, and Ms. Jumana Azriel, Public Relations and Media Manager at the Chamber of Commerce. In addition to Brigadier General Ehab Al-Saeedi, Commander of Salfit Governorate, Mr. Muhannad Bani Nimra, Deputy Mayor of Salfit, and a number of directors and representatives from official, civil and security institutions, as well as an elite of businessmen and traders in the governorate.

Dr. Ali Sartawi, Chairman of the Shari'a Supervisory Board took the opportunity to introduce a detailed account of the most prominent funding formulas adopted by the Islamic Banks, including their advantages and effects on economic enhancement. Furthermore, Dr. Sartawi ventured to explain the nature and philosophy of Islamic banking and mechanisms while taking into consideration the public’s inquiries and questions.

Dr. Sartawi continued to emphasize that Islamic banking awareness is one of the main objectives in which PIB works to achieve, through the various available tools; indicating that such efforts shall not seize and shall continue to be implemented throughout the country’s various governorates.

Moreover, Dr. Sartawi indicated the increasing demand for banking services in accordance with the provisions and principles of Islamic Shari’a by stating that: “Islamic banks have proven to be able to keep abreast of developments and have succeeded in providing remarkable banking services that meet the needs of clients, while relentlessly developing current and proficient financing and investment tools and formulas”.

For his part, Mr. Fawaz Shihadeh, Director of Salfit Chamber of Commerce and Industry, extended his gratitude to PIB for organizing the seminar and for its interest in raising awareness and spreading the culture of Islamic banking, while stressing the prominence of the banking sector as one of the most important economic sectors locally and globally, and for serving as an essential component of the national economy and an operative element in the prosperity of the Palestinian national economy; noting that banking awareness has become more prominent among traders, businessmen as well as among the people of Palestine, in general, due to the services being provided by banks to the various segments of society.