The Capital Market Authority and the Chamber of Commerce and Industry in the Ramallah and Al-Bireh Governorate organized an informational meeting about the financial leasing sector in Palestine with the support of the Italian Agency for Development Cooperation.
Mr. Mohammad Al-Nabali, the Vice Chairman of the Chamber, welcomed the delegation from the Capital Market Authority, emphasizing the importance of such visits that reflect the role of the PCMA in the growth of various sectors, particularly the financial leasing sector.
Al-Nabali added that this sector plays a vital role in the growth and development of the Palestinian economy, as it consists of companies that provide integrated services with significant impact, serving as a cornerstone in any developmental process.
Mr. Barraq Al-Nabulsi, the General Director of the PCMA, noted that the Ramallah and Al-Bireh Governorate serves as a hub for Palestinian companies in the financial leasing sector. He called for said companies to consider a horizontal presence through the regions of Palestine in order to facilitate the sector’s operations.
Al-Nabulsi emphasized that this meeting is part of the PCMA’s strategic plan for the years 2021-2025, aimed at ensuring the sustainability of non-banking financial sectors under the PCMA’s supervision and enhancing their stability.
By the same intimation, Ms. Lina Ghbeish, the Director of the Mortgage and Leasing Directorate at the PCMA, provided an overview of the sector and its role in economic growth in Palestine. She shared key statistics about the sector and highlighted its role in bringing about a qualitative leap in the Palestinian economy through small and medium-sized projects.
Ghbeish emphasized that the financial leasing sector serves as a complementary financing means to the available options in the Palestinian market, whether from banks or small lending institutions.
Participating companies also presented their services for small, micro, and medium-sized projects, as well as their financing mechanisms, including Sharia-compliant financing and other types of financing.