Reef Finance distinguishes itself from most other financial institutions in Palestine by its focus on rural areas and the agricultural sector. It provides financial services to rural based clients, including cooperatives, farmers, agro processors and small businesses. This strategy has a multiple motivation: agriculture has been the backbone of the Palestinian economy; the supply of financial services to this sector is limited (estimated supply of $18 million given a real demand of $47 million); and improving the provision of financial services (not limited to credit) is an engine for growth and can contribute to the diversification and modernization of Palestinian rural economy.
Reef Finance focuses on the agricultural cooperatives and its members and agri-businesses in the rural areas by providing group lending and individual lending. To minimize risk for Reef Finance and to provide answer to the clear demand for Islamic lending from the clients, Reef provides in-kind lending. In specific, our clients are people working and living in the rural areas:
- Cooperatives and associations
- Members of cooperatives and associations
- Small and medium enterprises