geo/palestine
COVID-19 has created both a health and an economic crisis, both of which are strongly affecting SMEs everywhere. At the same time, the current crisis may present financial institutions and regulators with the opportunity to accelerate digital transformation. This transformation, in turn, could enable SMEs to continue serving their customers, stimulate new consumption, and support economic recovery.
Bank of Palestine was established in 1960 to serve Palestinians of all socio-economic groups. With a network of 70 branches, 31 percent market share of deposits, 33 percent market share of loans and more than 890,000 customers, the bank serves retail, corporate, small and medium enterprises, microenterprises, and the Palestinian diaspora. The bank has been listed on the Palestine Exchange since 2005, and it is the second largest listed company.
Micro, small, and medium enterprises (MSMEs) constitute 96 percent of the Palestinian private sector (Althalathini 2015), but only a quarter of these businesses are owned by women (IFC 2011). Few opportunities for women to participate in the labor force exist, either through corporate employment or entrepreneurship. Although 65 percent of Palestinian women have expressed a desire to launch a business, only 15 percent have done so (IFC 2014).
Commercial bank based in Palestine that provides full and distinctive banking solutions to the public sector, institutions, private companies and individuals.
The International Finance Corporation (IFC) is to invest in a private equity fund to help SMEs in the West Bank and Gaza gain access to the finance they need to grow and create jobs. IFC’s equity investment of up to $3 million in the Palestine Growth Capital Fund, which is managed by The Abraaj Group, will help provide long-term financing to SMEs across various sectors, from health care to retail, allowing them to expand their business and employ more workers in a shrinking economy.
IFC, a member of the World Bank Group, has signed an agreement with a Palestinian bank to support smaller firms, especially those owned by women, drive economic development.
The Trafigura Foundation is now pleased to support the Cherie Blair Foundation, with a particular focus on advancing women’s businesses in the Palestinian Territories. The project will run for 36 months, from January 2014 to December 2016.
This presentation goes over the following points
Economic Context for the ST Law
Various Forms of Support
Sources of Law and legal Philosophy
Opportunities
Challenges
Registry
Addressing Challenges and Impact on the ST Regime
