Palestine Islamic Bank and Bisan Air Conditioning Sign a Bargaining Agreement

Islamic Bank and Bisan Air Conditioning (Private Limited Partnership) announced signing a Bargaining Agreement that aims to facilitate access for customers to locally manufactured air conditioners. The agreement was signed by Deputy General Manager of Palestine Islamic Bank; Mr. Saeb Sammour and Engineer Mohammad Jawhar; Bisan Air conditioning General Director at PIB Ramallah headquarters with the presence of Assistant General Manager of the distribution network Mr. Emad Al-Saadi and a number of department directors.

“By signing this agreement, Palestine Islamic Bank is activating Shariah-compliant financing formats, he stressed that this selling method will enable the client to purchase the product at the same price in the company’s exhibition with no added cost, and it will also contribute to supporting the national product.” Said Saib Sammour.

“by promoting it and facilitate access to it by local citizens. This will result to recharge to the national economy with locally produced products, and encourage local producers to innovate in the products they offer to the local market, which will be inspired by what this market needs.” He added.

After observing the modern and highly technical and professional equipment the production lines are equipped with at the factory, Mr. Sammour spoke about how proud he is with this local product and the level of technical development Bisan factory is following, the factory’s products have proven its efficiency to the local customers and gained their admiration and trust, Mr. Sammour called for supporting local industries and for providing protection for them in order to be able to compete with foreign products.

On the same note, Mr. Mohammad Jawhar, General Director of Bisan Air Conditioning expressed his pleasure with signing this agreement, he said that it stresses on the pioneer role the Bank is playing in supporting the local product and promoting for it in all means possible. Mr. Jawhar also stressed to the fact that Bisan Air Conditioning is the 4th of its kind in the middle east, “it was established as a Private Limited Partnership company in 2012 with a capital of 2.5 million US dollars as an advanced air-conditioners factory, and the first and largest Palestinian factory specialized in manufacturing and production of different types of air conditioners.” He mentioned.

Mr. Jawhar pointed that the factory aims in the first phase to meet the needs of the domestic market; and to start later with expanding to the regional and Arab world markets. The factory was established by Reach Holding an investment group that was established in 2011, with branches in the UAE and Jordan, it focuses its investments in industrial sectors and other sectors.