PIB and Al-Zaytouna Islamic Finance Sign Settlement Bank Agreement
Palestine Islamic Bank (PIB) and Al-Zaytouna Islamic Finance signed a settlement bank agreement under which the bank will settle Al-Zaytouna Company's accounts in the national invoice display and payment system E-SADAD.
The agreement was signed at the headquarters of PIB in Ramallah in the presence of PIB's General Manager, Dr. Imad Al-Sadi, and the General Manager of Al-Zaytouna Islamic Finance, Jamal Odeh.
Al-Sadi said that this agreement is part of the continuous cooperation between the two sides in several fields and contributes to encourage the public's use of electronic payment solutions by allowing Al-Zaytouna customers to pay their installments quickly, easily and around the clock through banking applications through the E-SADAD platform.
Al-Sadi added: "There is a close relationship between PIB and Al-Zaytouna since its establishment, and this is not the first agreement between us. In fact, we seek to strengthen our partnerships and cooperation with Islamic finance and banking institutions in Palestine because of its importance in developing the Islamic finance industry."
For his part, Odeh said that this agreement comes within the framework of the partnership with PIB and aims to allow the company’s customers to pay their installments electronically through the national invoice display and payment system E-SADAD. This shall boost cooperation and integration between Islamic finance institutions for the mutual benefit of all.
Several PIB officials were present during the signing of the agreement, including PIB’s Assistant General Manager for Branches Zayed Shukair, the Director of the Marketing and Public Relations Department Ibrahim Salman, the Director of the Financial Department Mahmoud Akl and the Director of the Electronic Services Department Saleh Al-Sadi. From Al-Zaytouna’s side, the Director of Finance Mustafa Abu Al-Tin, the Director of Support Affairs Fadi Sharif and the Digital Media Officer Heba Awri participated to the signing ceremony.
Al-Zaytouna Foundation's mission is to provide advanced financing solutions that are fully Sharia-compliant to meet the needs of small and micro enterprises, entrepreneurs, women and youth. Such financing aims to enable these categories to implement their projects and ambitions, provide them with job opportunities and get them out of poverty and destitution.
PIB seeks to strengthen partnerships with Islamic financial and banking institutions at the local and international levels, and its mission and vision revolves around excellence in providing modern and safe banking and investment solutions in accordance with the provisions of Islamic Sharia. PIB has also developed a strategy for digital transformation, resulting in the launch of digital services that provide distinguished banking services through an easy and secure environment that enhances the digital experience for retail and corporate customers.