BOP has declared its accession to the Global Banking Alliance for Women (GBA), which seeks to propel the growth of women in business and women’s wealth creation while generating superior business outcomes for member financial institutions. BOP is the first Palestinian banking institution to become a GBA member.
Membership in the GBA will enable BOP to learn about the best practices concerning banking services provided to women by way of exchange of expertise and information as well as through access to required resources in the field. Moreover, accession to the GBA will boost BOP’s capacity to provide financial services to women and raise awareness about the significant economic role of women as customers, investors and entrepreneurs.
BOP believes its alliance with GBA will enhance the role of Palestinian women in the development of a stable national economy. Its vision is to actively engage women in the promotion of Palestinian economy and the opening of new economic horizons. According to statistical data, the rate of unemployment among women and their involvement in the Palestinian labor force is much higher than that of men. For this reason, BOP is exerting tremendous efforts to have women exercise their role in the development of Palestinian economy.
In addition to raising banking awareness, BOP aspires to reach out to all segments of Palestinian women most notably business women, employees and housewives through developing products and services tailored to women needs. Furthermore, by the end of 2013 BOP has raised the rate of its female employees up to 25% compared to 17% in 2008. BOP aims to raise the rate of its female employees to 50% and appoint them in senior administrative positions.
BOP sees that the development of investment opportunities and domestic enhancement of economic growth can take place only through incentivizing women and providing them with opportunities to play a bigger role in the economic sector. The Palestinian labor market and the economic environment have the potential to absorb working women in remote marginalized areas through reinforcing women economic engagements, involving them in different professions and assisting them in developing their own enterprises.
The GBA for Women focuses particularly on the needs of business women and the development of SMEs. GBA 39 member institutions work in more than 135 countries to build innovative, comprehensive programs that provide women entrepreneurs with vital access to capital, markets, education, and training.