An auto finance centre opened in Jerusalem, providing loan financing to Palestinians, refugees, residents of Israel and foreign nationals, as well as to Israeli citizens.
The centre is located in the al-Quds neighborhood, adjacent to the Old City.
It is run by the National Union of Palestinian Businesses and the Palestinian Authority (PA).
According to the center’s website, it offers financing for the purchase of basic goods and services, and also the financing of loans for purchasing housing and other items, as a means of livelihood.
“The centre has three different types of financing, including the ‘lender’ type which allows for the repayment of debts and loans.
For a loan, a borrower is required to provide the required documentation and pays interest, and the ‘credit’ type allows the borrower to borrow money from a bank account for the duration of the loan,” the website reads.
The centre’s director-general, Abu Eitan, explained that the centre is aimed at Palestinians who are seeking loans for their own and for the family members of Palestinians who have recently left the Gaza Strip.
He said that the facility also offers financial support for the families of Palestinian refugees who have been displaced or who are in need of help.
“They need to make arrangements for their return and to take part in the reconstruction process,” Abu Eion explained.
“We also work with Palestinian families to ensure their financial needs are met.”
The center is one of many centers in the West Bank and Gaza that are aimed at providing loan support for Palestinians, according to the Israeli government.
According to figures provided by the Palestinian Ministry of Finance, the PA has received more than $8 million in loans from the National Bank of Israel since 2005.
Since 2013, Palestinian refugees have received almost $7 million in funding.
However, the centre also works to help Palestinians who live in settlements.
The Palestinian Authority has been in charge of the Palestinian Bank in the Gaza-based territory for years, with a large amount of the bank’s assets in the Israeli West Bank.
The bank is not permitted to operate in the Palestinian territories, however, the Palestinian Finance Authority (PFA) has its own bank and maintains its headquarters in the East Jerusalem settlement of Har Homa.
According the Palestinian Financial Authority, Har Hama has been providing the Palestinians with loans since the early 2000s.
The PA claims that the Har Hamas Bank was established to protect the Palestinian citizens of Israel from financial harm and to maintain the status quo in the occupied territories.
The PFA, however has denied this claim.
The Palestinians claim that Har Homes’ financial situation was improved following the 2014 Israeli disengagement from the West Jerusalem neighborhood.
According to the PFA’s financial information, the Har-Hama Bank has been operating in the territory for more than 30 years.
The number of loans made to Palestinians in Har Homas increased from 2,000 to 20,000 during the years the bank was in existence, according the PNA’s annual report.
While the PA is the primary lender in the settlement, it has also been lending to Palestinians and Palestinians’ property owners.
According a Palestinian official, the amount of money transferred to the PA from the Har HaMekat Bank during the past two years totaled over $2.5 million.
According, the PPA and Har Hams Bank have partnered on a loan of $10.7 million, which was used to purchase a house for the Palestinian residents of Har Ha’emim, who live on the Har Negev and are based in the northern Israeli city of Eilat.
According a spokesperson for the PA, the loan was the result of a cooperative agreement between the two entities, in which the PA was obligated to make loans to the Har Mekat and Har Haemim and to ensure the financial security of the Palestinians.
According Abu Eiton, the loans were made with the cooperation of the PA’s Ministry of Public Works, which has its offices in the area.
The loans were issued by the Ministry of Civil Affairs, the official said.
The spokesperson said that while the loan amount was announced on the website, the total amount of loans issued so far was $4.5 billion.