On Tuesday, January 13, 2014, Bank of Palestine organized a workshop for contractors in Gaza Strip, in order to learn about the implementation of their latest businesses and projects, in addition to discussing the problems that contractors face in the Strip and enhance their role in the building and enhancing the economic and national development. This workshop was conducted per the Bank’s goal to facilitate banking transactions to all customers, particularly contractors, and accelerate the completion of their development projects under the reconstruction operations in Gaza Strip.

The workshop was held at the Roots Hotel on Gaza’s beach with participation from Mr. Faysal Shaway, Board of Directors Member, Mr. Alaa Al Redwan, Deputy General Manager for Bank of Palestine, in addition to Mr. Wael Sorani, Mr. Ihsan Shaushaa and Mr. Salman Qmaila, Assistants General Manager at the Bank; the workshop was attended by more than 400 representatives of contractors, media and journalists.

Mr. Alaa Al Redwan, Deputy General Manager for Bank of Palestine, welcomed the workshop’s attendees, stressing the importance of communications and networking relations between the Bank and the Palestinian and the contractors to enable them to continue working; through financing their projects, supporting them with the needed and available resources, which serves the growth of our economy and leads to a constructive economical partnership.

Al Redwan also indicated the importance of this sector in the light of the difficult conditions experienced by Gaza Strip, as the Contractors are making tremendous efforts towards the reconstruction process; he adds that the Bank will continue to support this sector under all conditions in Gaza Strip; he also adds that the Bank is working in the coming period on resolving obstacles and accelerating the banking procedures for all contractors, in order to move forward with their reconstruction work and reduce the burden on citizens due to the latest war on Gaza.

Al Redwan revealed the Bank’s decision to provide the contractors sector an additional package of facilitations, related to the guarantees’ ceilings to enter bids, commission to enter bids and postponement of advanced guarantee payments. These facilitations are complimentary to other facilitations provided to the contractors. He emphasized that the Bank has interest in the contractors sector, in which it is part of the Bank’s ongoing policy to enhance the resilience of our people; in addition to the Bank of Palestine’s interest to improve the economic conditions and increase employment rates by supporting small and medium enterprises and support contractors under all conditions, as the contractors sector suffered difficult conditions due the inability of the government to pay their dues per the financial crisis.

Darwish Abu Ma’elek, President of Contractors Association, expressed his appreciation to the Bank’s efforts and its support to the Palestinian contractors, and he thanked the Bank’s management for its responsiveness to the needs of the Contractors Association in Gaza Strip, and its responsiveness in providing various banking and financial services more easily and quickly.

Abu Ma’elek added that the Bank supported the contractors during various periods, representing its solidarity with different institutions from the local and economic community, in particular the contractors, in which the Bank patriotically supported through difficult conditions; the Bank had an apparent role in facilitating the reconstruction operations through providing premium facilitations that enhances the resilience of the Palestinian people in Gaza Strip and help them overcome the economic and political difficulties and challenges.