PMA receives international award for the best financial awareness activity in MENA region 

PNN/ Riyadh/

Child and Youth Finance International (CYFI) based in the Netherlands has awarded Palestine Monetary Authority the CYFI Country Award 2018, an international award, for the best financial and banking awareness raising activity among the youth and children to be organized in the region of the Middle East and North Africa. The award is in recognition of PMA’s high achievement in organizing the Children and Youth Money Week in 2018 in Palestine.

H.E. Mr. Azzam Shawwa the Governor of PMA, said this new success of PMA is an accomplishment for Palestine and showed again the advanced professional level of PMA, which occupied an eminent status among Arab and international peers thanks to the expertise of PMA’s team and of being informed about the latest international developments and PMA’s noticeable efforts to realize the requirements of the national strategy of financial inclusion in Palestine.

H.E. the Governor of PMA expressed gratitude and appreciation to President Mahmoud Abbas for the unlimited support for PMA and the Palestinian banking system, and to the Prime Minister and his Cabinet. The PMA would have never secured such successive accomplishments without the support and cooperation of the sovereign institutions of the State of Palestine.

H.E. the Governor of PMA also expressed sincere appreciation to the institutions that cooperated with PMA in organizing the Children and Youth Money Week in 2018, including the Association of Banks in Palestine, the Palestinian Network for Small and Microfinance (Sharakeh), the Ministry of Education and Higher Education, and the Education Program of the UNRWA. H.E. the Governor of PMA also thanked the employees of the banks and the lending institutions. The cooperation of the institutions and individuals has earned Palestine the respect of international financial organizations, according to H.E. the Governor of PMA.

CYFI Country Award 2018 was handed to Mr. Ali Faroun, Director of the Market Conduct Department at PMA during the GPFI Forum, which Saudi Arabia hosted on July 3-4.

Mr. Faroun affirmed upon receiving the award the importance of the continuation of organizing the Children and Youth Money Week for its noticeable outcomes with respect to raising the Palestinian children and youth awareness and positive results in sustainable social development under difficult economic circumstances.

PMA organizes the Children and Youth Money Week annually. This has been an initiative of PMA and partners since 2011. The organization of this event usually coincides with the activities of the Global Money Week, which takes place every year on March 15 and aims to enhance the financial and banking culture in the society especially among children and youth and prepares them to wisely plan their financial future.

The Children and Youth Money Week this year included a virtual bank for two days in the West Bank and Gaza Strip. Students’ visits to the virtual bank were organized in coordination with the Ministry of Education and Higher Education and the UNRWA to inform students of the banking services of the banks that operated in Palestine. Students also visited banks’ and lending institutions’ branches and headquarters. Employees from banks and lending institutions also visited schools to explain the way they worked and to educate students about banks and handed information pamphlets.

It is worth noting that this is the second time CYFI awards PMA the CYFA Country Award; the first time was in 2013 for organizing the best financial and banking activity in the region of the Middle East and North Africa.