PIB Signs an Agreement with Jawwal Pay
Palestine Islamic Bank (PIB) signed an agreement with The National Electronic Payment Company (Jawwal Pay), which enables PIB to provide onboarding services for new subscribers of the electronic wallet Jawwal Pay, as well as cash deposit and withdrawal services for existing e-wallet subscribers.
Imad Al-Sadi PIB General Manager and Ibrahim Khammash Jawwal Pay General Manager signed the agreement in presence of the PIB’s executive management and department managers from both sides, at the PIB’s HQ in Ramallah.
Al-Sadi said: “this agreement is a result of long cooperation between the two parties, intended to provide new services to PIB’s customers and serve current and future subscribers of Jawwal Pay. This agreement enables PIB’s customers to subscribe to Jawwal Pay e-wallet and deposit and withdraw money from their e-wallets around the clock through all PIB’s digital channels and branches network distributed across the country. ” Al-Sadi added that this agreement is a first step towards providing a set of services in cooperation with Jawwal Pay.
Al-Sadi admired the outstanding efforts made by Jawwal Pay for providing advanced and safe electronic payment services for all sectors of the Palestinian community, which will contribute to transforming the Palestinian economy into an advanced digital economy as well as achieving national financial inclusion.
This agreement comes in line with the PIB’s overall strategy to invest more in technology and provide innovative payment services to its customers as part of its digital transformation plan. The agreement comes also within a framework partnership between PIB and Jawwal Pay by which PIB provides a suite of banking services to Jawwal Pay and its network of agents and merchants who provide electronic payment services to the e-wallet subscribers.
Ibrahim Khammash, General Manager at Jawwal Pay stated:
“This agreement comes as a part of the company’s efforts to facilitate its services to existing and future e-wallet subscribers, by working with a strategic partner such as Palestine Islamic Bank.” Khammash added: “Jawwal Pay will continue to develop the electronic payment services by adding more partnerships that will help in fulling its mission to reduce cash transactions in daily life, which will positively affect the national economy.”
Jawwal Pay is the first mobile e-wallet, and the first to obtain Palestine Monitory Authority license to provide e-Wallet payment services in Palestine.
PIB is the leading Islamic financial institution in Palestine with a clear strategic vision in providing Sharia-compliant products from an advanced technological perspective. It has been a first mover in bringing innovative sharia-compliant financial products to its retail and corporate customers taking full advantage of advanced technologies in providing various banking services through its digital channels, which contributes to achieving a distinguished and rich banking experience for customers.