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Bank of Palestine Accommodates a Workshop on Raising the Awareness among Home Buyers in Palestine

2012-03-05

Bank of Palestine BOP accommodated in its headquarter in Ramallah, a workshop that is organized by “Homebuyers Education Program in Palestine”- a program of CHF International and funded by the The Department For International Development (DFID)-, which aims to strengthen and improve the capacities of the Palestinian families to become able to own their homes successfully , where the presence of more knowledgeable consumers will make them better borrowers and more responsible owners .

Alongside BOP, delegates of: Palestine Capital Market Authority, the Palestinian Monetary Authority, the Association of Banks in Palestine , the Arab Bank ,Al-Quds Bank, Palestine Islamic Bank , Cairo Amman Bank and other institutions and ministries also participated in the workshop.

During the workshop, many important topics concerning home buyers in Palestine were discussed, in which will be part of the awareness campaign committed by the program over 18 months. The campaign targets the potential home buyers in the West Bank through series of various advertisement types (newspaper, radio, billboards, television commercials and general meetings). Where the campaign will address important topics related to purchasing and owning housings, and focus on the topics that will lead buyers to take incorrect decisions as a result of lacking the knowledge and understanding. It will address issues such as: purchasing registered/unregistered real estate, the disadvantages of the direct purchase from the contractor, the available bank financing options and the conditions that the buyers should conceder in the real estate purchasing contract.

The manager of the program, Dona Stefano, showed the objectives of the program in addition to its components and the nature of the advertising campaign that will be launched in April, while Ashraf Al-Zein , the mortgage expert in the program , showed the phases of purchasing and owning housings in general and the most important messages that must be included in the campaign.

At the end of the workshop, the participants were divided into working groups to identify the most important messages of the campaign, where these messages were displayed and voted upon by the participants.