The Banking Institution "Rowwad" marked the launch of its new brand identity and digital platform in the Gaza governorates on Wednesday, 30 August 2023, in a ceremony attended by the Foundation’s Management Committee and a number of official and prominent figures in Gaza.
The event reflects Rowwad’s continued efforts to strengthen communication and engagement with local community institutions and target groups across the Gaza governorates.
Representing H.E. Dr. Firas Melhem, PMA Governor, Dr. Raafat Al-Araj stated that this event comes as the culmination of a reform and development process led by the PMA, driven by its conviction in the pivotal role of the lending sector in general, and the Rowwad Foundation in particular, as a national Palestinian institution that has consistently been at the forefront in extending support to unbanked and financially vulnerable households, thereby ensuring their financial and social stability.
Dr. Al-Araj added that the PMA spares no effort in developing the financial sectors under its supervision and in allocating sufficient resources to that end. In this regard, he noted that the PMA has prepared a draft regulatory framework for the licensing of microfinance banks and digital banks, which will operate alongside all relevant institutions in providing diversified financial services in line with the latest global developments, bridging the financing gap in Palestine, and contributing to the achievement of financial inclusion.
On his part, Mr. Faroun reaffirmed Rowwad’s commitment to strengthening its presence and expanding its outreach across the Gaza governorates, which he described as an integral part of the beloved homeland. He further emphasized the foundation’s sustained drive to deliver modern, innovative financial services aligned with global technological advancements, aimed at reducing clients’ time and effort, enhancing financial inclusion in Palestine, and ensuring access to financial services for all targeted segments. He added that the new name and visual identity represent a continuation and extension of the Palestinian Banking Institution’s longstanding history and institutional trajectory.
Engineer Saeed Abu Al-Ouf, speaking on behalf of Engineer Ayed Abu Ramadan, Chairman of the Gaza Chamber of Commerce, stated that the launch of Rowwad’s digital identity reflects the foundation’s firm commitment to innovation, institutional development, and excellence in delivering high-quality financial services with sustainable social impact. He described the initiative as a clear indication of the foundation’s leadership within the Palestinian financial sector and its position as a benchmark for institutions seeking to evolve and adapt to rapidly changing global financial and economic landscapes. He further noted that the Gaza Chamber of Commerce, Industry and Agriculture, as the umbrella body for all economic sectors, places strong emphasis on the role of technological advancement and innovation in strengthening and developing the Palestinian private sector.
In his turn, as the Chairman of the Gaza Association of Businessmen, Mr. Ahmed Abu Eideh stressed that digital transformation stands at the forefront of the association’s priorities, given its central role in enabling faster financial transactions with the highest standards of security, transparency, and efficiency. He commended the efforts of the PMA and financial and banking institutions, particularly Rowwad, in adopting a clear vision and strategic approach to digital transformation, aimed at enhancing efficiency, reducing operational costs, improving customer experience, and reinforcing security and protection systems. He reaffirmed the commitment of the association, alongside the broader private sector, to continued cooperation with the PMA and banking institutions in advancing national digital transformation agendas.
The ceremony further featured the signing of a joint cooperation agreement between Rowwad and Accord Company.
As this event draws to a close, it is worth noting that Rowwad Foundation stands among the pioneering lending and financing institutions in Palestine. Its vision and mission are anchored in a commitment to excellence in delivering financial services through a digitally oriented framework that is responsive to the needs of target beneficiary groups, while contributing to the generation of tangible, positive, and sustainable impact. This is pursued through a comprehensive and diversified portfolio of financing programs designed to empower small and micro enterprises to establish, develop, and expand their projects, supporting sustainable economic development, creating employment opportunities, and reinforcing the principles of social and economic justice.
