Under the Felestineya program, Bank of Palestine launches two bundles for businesswomen and women entrepreneurs
Stemming from its efforts to develop tools, programs and activities that aim to empower and promote women entrepreneurs and business owners to develop and expand their business at all stages, Bank of Palestine launched two new Bundles through the Felestineya program for Businesswomen and women entrepreneurs.
The first Bundle targets women entrepreneurs who own Business that have been operating for at least one year, and wish to upgrade them to the highest professional levels, while the second Bundle targets businesswomen who own Business that are at least three years old and wish to develop and expand her business and wants to transform the business from the informal sector to formal sector.
The new Bundles allow businesswomen and entrepreneurs to access privileged banking products and services such as (bank accounts, savings accounts, bank cards, loans, and other financial products) at low commissions and interest rates. The Bundles also offer non-financial Advisory service to assist women in managing their Business financially and promote their integration in the Palestinian economy.
Mr. Mahmoud Al Shawa, the General Manager of Bank of Palestine, stressed out that the launch of both two Bundles comes in the context of the Bank’s vision and strategy to support and improve women lives through access to banking services, ensure the protection of their living standards and create job opportunities. According to Al Shawa, “one of the most important factors that promote the economic status of Palestinian women is their financially independence by addressing obstacles and taking advantage of financing opportunities.” “Also, starting and developing a Business is one of the powerful tools that women can use to overcome poverty and build a better life for themselves, their families and their communities,” added Al Shawa.
Al Shawa expressed his happiness and pride in launching three new loans through the Felestineya program especially for businesswomen and entrepreneurs, with low commissions and interest rates, which will “contribute to overcoming all financial obstacles and allow women to achieve their visions and goals in terms of developing their Business through all stages.” The Bank played a significant role in leading the financial inclusion of women in the Palestinian economy through financial plans that focus on the segment of women, by directing them towards an integrated financial system, offering them various banking services and responding to their financial needs, thus achieving their financial security.
Al Shawa added that the development of these two suites is a step in the right direction. “We still have a long way to go until we can reach the desired level of financial inclusion for women,” stated Al Shawa, “considering that many women are successfully managing their small and medium enterprise and need financial support to advance and develop their projects,” he added.
In its report issued on the “Arab Day for Financial Inclusion” at the end of 2021, the Palestine Monetary Authority indicated that the percentage of women who deal with the banking sector remains low: around 29% of women own bank accounts; around 4% of women have bank loans; 5,898 projects owned by women are financed by loans; and the percentage of loans granted to projects owned by women reached 4%