The Banking Executive Magazine - Septmber Issue 2021

Palestine Islamic Bank Palestine Islamic Bank and Palestinian Agricultural Credit Institution DISCUSS WAYS OF SUPPORTING AND DEVELOPING AGRICULTURE SECTOR General Manager of Palestine Islamic Bank (PIB), Imad al-Sadi, and Under- secretary of the Ministry of Agricul- ture (MoA) and facilitator of the Palestinian Agricultural Credit Insti- tution (PACI), Eng. Abdullah Lahlouh, discussed ways of strength- ening cooperation to support and de- velop the agricultural sector, particularly through promoting digi- tal development and increasing re- liance 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 manage- ment, 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 Bad- wan. During the meeting, al-Sadi stated that the Bank attaches great impor- tance to supporting the agriculture sector by providing facilities to oper- ating institutions and companies in the sector. He added that supporting this vital sector contributes to pro- moting 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 ap- proach 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 in- troducing cutting-edge technology, which plays a major role in increas- ing production and optimizing the use of available resources. Al-Sadi also commended PACI’s efforts for empowering small farmers and mar- ginalized 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 sustain- able development dimension, thus enhancing the resilience of farmers. Lahlouh stressed the importance of cooperation and partnership be- tween PACI and PIB to enhance pub- lic-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 do- mestic product. The mission and vision of PIB re- volve around providing comprehen- sive 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 transforma- tion process, which resulted in launching pioneering digital services such as the 24-hour digital contact center, Islami Online and Islami Mo- bile, which offer a distinctive pack- age of banking services through an easy and secure environment that enhances the digital experience for its individual and corporate cus- tomers. the BANKING EXECUTIVE 12 ISSUE 153 SEPTEMBER 2021