As part of joint efforts to strengthen the entrepreneurship ecosystem in Palestine, Arab Bank has signed a cooperation agreement with the Palestinian Ministry of Labour to launch a programme supporting the development of start-ups led by Palestinians youth. The programme will provide advanced training, specialised mentorship and an intensive training camp in Jordan, with the aim of qualifying the top ten most promising projects and helping transform into successful ventures capable of achieving a sustainable economic impact.
The initiative forms part of Arab Bank’s corporate social responsibility strategy, which focuses on investing in human capital, supporting innovation, empowering youth, and strengthening the entrepreneurial environment as one of the key drivers of sustainable growth and development. It also reflects the Bank’s vision of building effective partnerships that create a positive and sustainable impact on society.
The programme will be designed and implemented by AB Xelerate, Arab Bank’s innovation arm and fintech accelerator, in cooperation with the Palestinian Ministry of Labour. It aims to empower entrepreneurs behind early-stage start-ups to develop their ideas and transform them into scalable and sustainable businesses through a series of specialised training programmes and practical workshops covering business planning, financial management, marketing, innovation, risk management, and investor pitching techniques. The programme will also include individual mentoring sessions led by a group of leading experts and specialists, as well as an intensive training bootcamp in Jordan, providing entrepreneurs with the opportunity to meet leading experts and investors, build their professional networks and broaden their business horizons.
At the programme’s conclusion, participating projects will undergo a comprehensive evaluation by a specialised panel comprising experts in entrepreneurship and investment. Winning projects will be announced based on defined criteria, including innovation, economic viability, scalability and growth potential, as well as economic and social impact. The winning projects will receive the support and capacity-building needed to establish a stronger market presence and enhance their ability to grow and compete.
On this occasion, H.E. Dr Enas Al-Attari, Minister of Labour, affirmed that the programme is aligned with the Ministry of Labour’s efforts to support innovation and demonstrates the importance of coordinated efforts between the public and private sectors in supporting the entrepreneurship ecosystem and strengthening the business environment in Palestine. This contributes to creating sustainable employment opportunities and encouraging the establishment of entrepreneurial projects capable of growth and competitiveness amid current economic challenges. She added: “The programme will provide participants with valuable opportunities to gain practical experience, access specialised guidance and build relationships with investors, qualifying their projects to progress towards more advanced stages of growth, expansion and sustainability.”
For his part, Dr. Jamal Hurani, Arab Bank's Palestine Country Manager commented: “At Arab Bank, we believe that Palestinian youth have the potential and entrepreneurial to drive meaningful change in the national economy when provided with the right environment to grow.” He added: “Through this programme, we go beyond training; we aim to support entrepreneurs with promising ideas throughout their entrepreneurial journey through mentorship, and capacity building, enabling them to establish sustainable businesses that create employment opportunities and contribute to the national economy.”
It is worth mentioning that Arab Bank has taken an active role in the community by adopting a comprehensive strategic approach and collaborating with several NGOs to achieve sustainable economic, social, and environmental development. “Together”, Arab Bank’s corporate social responsibility programme is a multi-faceted programme that works on improving and developing different aspects of the community. Through a variety of initiatives and activities, the programme aims to serve the community in areas related to health, poverty alleviation, environmental protection, education, orphan support, and women empowerment.
This cooperation is also aligned with the Palestinian Ministry of Labour’s strategy and objectives to promote self-employment, support entrepreneurship and innovation, develop skills in line with labour market needs, and expand partnerships with the private sector in a way that contributes to creating sustainable employment opportunities, empowering youth, and strengthening the resilience of the Palestinian economy and its capacity for growth and competitiveness.