Asala Company for Credit and Development (Company) was founded in 2014 in compliance with the new banks law of Palestine, which also covers lending institutions. The law and the procedures of the Palestine Monetary Authority require that lending programs be provided by Private Shareholding Company registered with the Ministry of National Economy and authorized by the Palestine Monetary Authority. Asala Company for Credit and Development was registered on November 4, 2014; registration number is 562528471. Authorization for Asala Company for Credit and Development was received on October 28, 2014 from the Palestine Monetary Authority.
ASALA’s headquarter is in Ramallah and it has 10 offices and branches in the West Bank and Gaza Strip.
Before the Israeli operation in Gaza in 2014, the goal of ASALA was to have 50% of its portfolio in the Gaza Strip.
In addition to financial support, ASALA provides important psychological, methodological, technical and capacity building support to women entrepreneurs. Thus, ASALA obtained from Chambers of Commerce preferential conditions for registration of businesses started by women to enhance women entrepreneurs’ visibility, access to markets and decision making role.