financial-services-1Palestinian economy suffers hard political realities due to the Israeli occupation and lack of resources. Palestine is still under Israeli occupation, which controls economic resources and exacerbates economic problems, increases unemployment and poverty rates in the Palestinian community. However, efforts to realize economic development and overcome impediments through national and institutional strategic plans have borne fruit.

Therefore, small and large businesses in Palestine work continuously to realize national goals and reach out to the largest possible number of Palestinian people. The aim is to increase the income of households with low income. Asala Company for Credit and Development focuses on women’s economic and social empowerment and independence. Hence, Asala Company acknowledges women’s and men’s equal role in improving social and economic conditions at home and in the community.

Research and study showed that the most prominent challenge Palestinian women face was accessing the Palestinian market due to lack of capital, lack of access to resources, lack of knowledge of market needs and standards, continuous increase in prices of staple goods, and overcoming customs and traditions that stop women from realizing their economic and social aspirations.

financial-services-2The Palestinian Businesswomen’s Association (Asala) has since foundation in 1997 worked on improving the economic and social levels of Palestinian women. Asala Company for Credit and Development was created for this purpose. Asala Company was founded following new regulations by the Palestine Monetary Authority. The Company provides financial services to empower women of low income in order to reduce poverty and realize economic development in Palestine. Asala gave 29,873 loans to businesswomen between 1997 and 2014 at a total amount of USD 35,513,900.