PIB and Palestinian Agricultural Credit Institution Discuss Ways of Supporting and Developing Agriculture Sector
General Manager of Palestine Islamic Bank (PIB), Imad al-Sadi, and Undersecretary of the Ministry of Agriculture (MoA) and facilitator of the Palestinian Agricultural Credit Institution (PACI), Eng. Abdullah Lahlouh, discussed ways of strengthening cooperation to support and develop the agricultural sector, particularly through promoting digital development and increasing reliance on modern technology on various stages of production.
The discussion between the two sides took place at PIB’s headquarters in Ramallah, in the presence of members of the executive management, Asem al-Masri, Rami Taha, and Zayed Shqair, Head of the Credit Department, Abdelraouf Alawneh, PACI’s Assistant Director, Eng. Riyad al-Shahed, and PACI’s Media and Public Relations Manager, Saja Badwan.
During the meeting, al-Sadi stated that the Bank attaches great importance to supporting the agriculture sector by providing facilities to operating institutions and companies in the sector. He added that supporting this vital sector contributes to promoting the development process and reinforcing the national economy by increasing the share of agriculture in the national product and enhancing food security at the local level. Al-Sadi pointed out that Bank’s approach in this regard aligns with the government development plan for agricultural clusters.
PIB’s General Manager also stressed the importance of concerted efforts by all parties to support agriculture and to develop mechanisms and means for investment in this sector by increasing the share of agriculture Financing in the funding portfolio of the banking sector, in addition to introducing cutting-edge technology, which plays a major role in increasing production and optimizing the use of available resources. Al-Sadi also commended PACI’s efforts for empowering small farmers and marginalized groups.
On his part, Eng. Abdullah Lahlouh explained the role played by the Palestinian government and the MoA in supporting and developing the agriculture sector, particularly with regards to the establishment of PACI, which aims to provide financing for agricultural projects with a sustainable development dimension, thus enhancing the resilience of farmers. Lahlouh stressed the importance of cooperation and partnership between PACI and PIB to enhance public-private partnership.
PACI provides financial services to farmers, especially those with limited incomes and in marginalized areas, to help in protecting their lands and enhancing their resilience, as well as developing the agriculture sector to improve food security and farmer’s income, and to increase the share of agriculture sector in the national domestic product.
The mission and vision of PIB revolve around providing comprehensive high quality and modern banking solutions, in accordance with the provisions of the Islamic Sharia laws and investment within an advanced technological perspective. It also sets a deliberate strategy to proceed with the digital transformation process, which resulted in launching pioneering digital services such as the 24-hour digital contact center, Islami Online and Islami Mobile, which offer a distinctive package of banking services through an easy and secure environment that enhances the digital experience for its individual and corporate customers.