Palestine Ijara Company: Resilience Through Innovation (2013)
Palestine Ijara Company (PIC) is a leader in Shari’ah-compliant leasing, supporting Palestine’s private sector in one of the world’s most challenging regions. Since its founding in 2013 through a partnership between ICD, the Palestine Investment Fund (PIF), and Palestine Islamic Bank (PIB), PIC has bridged critical financial gaps for SMEs.
Driving Economic Growth
With USD 12 million in initial capital, PIC focuses on financing high-impact sectors such as healthcare, manufacturing, and transportation. By 2024, it had financed over 2,900 clients, achieving USD 101 million in cumulative leases and commanding 73% of Palestine’s leasing market. To date, total assets have reached USD 32.5 million.
With USD 12 million in initial capital, PIC focuses on financing high-impact sectors such as healthcare, manufacturing, and transportation.
Supporting SMEs amid Challenges
Despite political and economic instability, PIC has enabled businesses to grow, creating jobs and advancing sectors such as agriculture and logistics. Successes include mechanizing operations for women-led cooperatives and modernizing industry tools in underserved areas.
Strategic Vision for Development
Aligned with the SDGs, PIC fosters inclusive growth through ethical financial solutions. ICD’s strategic guidance in governance and risk management has been crucial to its resilience and long-term impact.
As a cornerstone of Palestine’s financial ecosystem, PIC aims to expand its reach and diversify offerings to empower SMEs and drive sustainable development.
