Bank of Palestine Launches Banking Facilities for Businesses Affected by Recent Alexa Snowstorm in the West Bank and Gaza Strip
25 | 12 | 2013
Bank of Palestine launched a new package of banking facilities for its customers who are owners of firms and small projects affected by the recent Alexa snowstorm in the West Bank and Gaza Strip. Alexa has inflicted damage to those projects rendering them incapable of resuscitation and further development. In this context, Bank of Palestine branches started to make field visits to assess the condition of business owners in each area and appraise the losses incurred to them. Bank of Palestine invited owners of damaged businesses to apply for the facilities at any of the bank’s branches and offices throughout the country.
Bank of Palestine believes the role of these projects in incentivizing Palestinian economy is crucial and therefore the bank labors to contribute to making up for the damage and loss caused by the snowstorm, and enhancing their capabilities to continue and develop. Bank of Palestine’s service also aims to assist businessmen/women and low-income people in developing their businesses in all areas including rural areas. The bank will continue to follow up the businesses and give consultation in order to secure sustainable growth and meet the ever increasing needs with more trendy products. By creating true partnership, Bank of Palestine will ensure that small businesses receive more advanced products and required consultation to expand their work. Small businesses and enterprises are of great importance for Palestinian economy comprising a large segment of businesses in Palestine.
The banking facilities provided by Bank of Palestine include deferment of payment of loan installments for affected customers, restructuring of loans to reduce amount of repayments, and reduction of interest. On the other hand, Bank of Palestine will grant customers who do not have banking services concessional loans with suitable maturity periods and low interest allowing them to repair the damage easily and smoothly. Hence Bank of Palestine banking services can be seen as a crucial actor in incentivizing Palestinian economy, creating job opportunities and upgrading standards of living.