Bank of Palestine signed a Memorandum of Understanding with the University College of Applied Sciences in Gaza with an aim to support entrepreneurial projects developed at the UCAS Technology Incubator. The MOU was signed at the University campus in Gaza City in the presence of Professor Alaa Al Radwan, the Deputy General Director of Bank of Palestine and Professor Rifa't Rustom, the President of the said University College, with the participation of a delegation of representatives from Bank of Palestine.

The MOU aims to promote cooperation between Bank of Palestine and the University College to develop and support small and medium-sized entrepreneurial projects and empower them for the future. Bank of Palestine will also assist students and empower them to lead their future endeavors.

Professor Rifa't Rustom welcomed the guests and expressed his enthusiasm about the bank's visit, stressing the unique relationship between the University College and leading national institutions, particularly Bank of Palestine. He pointed out that the University College continuously seeks to build and promote wider horizons with its partners, and emphasized the important role played by the private sector in supporting start-up companies, especially projects developed at the UCAS Technology Incubator, to allow them to stand on their feet. Rustom expressed his gratitude for the interest of Bank of Palestine in supporting such projects through this agreement of cooperation.

Al Radwan thanked the management of the university college for their hospitality, stressing the strategic relationship between the university college and bank of Palestine, which managed to achieve good steps in supporting the university college. He pointed out that the MOU aims to promote the role played by the UCAS Technology Incubator to support its projects, which will reflect on the field of human development. Al Radwan also indicated that part of the vision of Bank of Palestine is to continue to support such endeavors and create a sound economic environment that would alleviate issues such as unemployment in light of the difficult circumstances endured by the Palestinians in the Gaza Strip. He added that the technology sector contributed to the creation of job opportunities for start-up and medium sized companies with an aim to achieve an interactive economy.

The President of the UCAS Technology Incubator commended the role played by Bank of Palestine in supporting the technology and economic sectors, stressing that the incubator seeks to stand out and solve problems confronted by several projects; a situation that encouraged the incubator to develop its technical and technological services in order to facilitate the work of project developers.

Both parties signed the MOU to provide facilitations for supporting companies at the UCAS Technology Incubator, thus contributing to the realization of these projects and promoting their success. The delegation from Bank of Palestine were introduced to several projects developed by the UCAS Technology Incubator and the facilities at the university college, which managed to attract a great deal of attention.   

It is important to mention that the UCAS Technology Incubator seeks to establish several agreements and Memorandums of Understanding with both the private and public sectors, in order to support youth who are innovative and creative and provide a technology environment that encourages and supports youth and their entrepreneurial projects.