Translated by Tamara Barakat

The bulletin issued by the Association of Banks in Palestine on the “Corporate Social Responsibility of Banks 2015” revealed that the banking sector spent $5,600,465, around 4% of the banking sector’s profits, on corporate social responsibility activities during 2015. The banks partnered with 652 NGOs.

The bulletin explored the roles the banking sector played. It contributed with $1.05 million to education through partnering with 175 institutions due to the importance of education in building, developing, and uplifting societies. The banking sector provided $981 thousand to relief programs, which were distributed on 54 institutions. It contributed with $915 thousand to 94 institutions in the development sector. It also supported cultural activities with $640 thousand, disbursed on 89 institutions. It played an important role in the development of the health sector, and contributed with $449 thousand to 53 institutions. It supported sport activities with $417 thousand, partnering with 50 institutions. It played a pioneering role in supporting the environmental sector, contributing with $263 thousand to 19 institutions to help conserve the environment and spread environmental awareness among people. It also provided $154 thousand to 33 institutions specialized in childhood issues. It contributed with $139 thousand to the field of youth and creativity through partnering with 8 institutions. The sector placed a great focus on supporting people with special needs through contributing with $90 thousand to 34 institutions.

The Association of Banks in Palestine aims to shed light on the importance of corporate social responsibility, for it is not a slogan, gift, grant, or charity work, but rather a duty, an obligation, and a general  framework for societal, economic, and political development.

During 2016, the Association will be working on forming CSR committees in order to formulate the Palestinian banking sector’s CSR strategy. It is also preparing for a conference on CSR, in cooperation with the Palestine Monetary Authority.

(Palestine Economy Portal)