PIB and the Ministry of Awqaf Signed an Endowment Land Investment Agreement

Palestine Islamic Bank and the Ministry of Awqaf and Religious Affairs signed an agreement to invest an endowment land in the city of Jericho for the purpose of establishing the Bank’s Central Archives project.

The agreement was signed by the Undersecretary of the Ministry of Awqaf and Religious Affairs, Dr. Hussam Abu Al-Rub, and PIB General Manager Imad Alsadi, in the presence of the Assistant Undersecretary for Advocacy and Outreach Sheikh Atef Yussef, the Ministry’s General Manager of Properties Mahmoud Hamad, the General Manager of Administrative Affairs Ahmed Abbas, and PIB’s Assistant General Manager for Planning and Development Assem Almasri, in addition to a number of managers from both sides; whereas the signing of the agreement took place at the Ministry’s HQ in the city of Al-Bireh.

Abu Al-Rub said that the ministry is working according to a strategic plan through which it seeks to develop endowment properties utilizing them in the most optimal way by investing them in economic projects of all kinds.

Abu Al-Rub added that allowing the investment of endowment properties aims to achieve integration between the private and public sectors for the service of the national economy.

For his part, Alsadi praised the efforts of the Ministry of Awqaf and Religious Affairs for ensuring optimal investment and protection of endowment properties, stressing their contribution to accelerating the development process and advancement of the economy.

Alsadi added: “The Central Archive Project is part of the Bank’s strategy for digital transformation, which we view as an integrated process, starting with the advanced digital services that we provide to our clients, to the electronic archiving works that contribute to developing the way of doing business and developing an integrated institutional memory, in line with the best practices followed for managing security of customer information and maintaining their confidentiality; which also leads to raising the quality of services provided to customers.”

Alsadi also indicated that the project will provide dozens of direct and indirect job opportunities, as it is in line with the Bank’s vision to protect the environment within its sustainable social responsibility program; taking into account environmental requirements in terms of construction and design. The project will also include a solar power plant that will generate the electrical energy needed for work.

The mission and vision of PIB focuses on providing qualitative and modern comprehensive banking solutions in accordance with the provisions of Islamic Sharia and investment within an advanced technological perspective. PIB has also set a deliberate strategy to proceed with the digital transformation process, which resulted in launching pioneering digital services such as the 24-hour digital call center, Islamic Online and Islamic Mobile services, which offer a distinctive package of banking services through an easy and secure environment that enhances the digital experience for individual and corporate customers.