Bank of Palestine and Arab American University signed a Memorandum of Understanding (MoU) to support PhD program in Business as part of its contribution to support higher education. The memorandum of understanding was signed at the headquarters of the Bank of Palestine's in Ramallah, in the presence of Mr. Rushdi Al-Ghalayini General Manger of BOP and Mr. Faleh Abu Arrah, Vice President of Financial and Administrative Affairs from AAUP.

In the agreement terms, the Bank will provide special financial support to Ph.D. Business students at Arab American University. Where this program has excellent educational features specially in applying quantitative and qualitative research methods in the field of business as an in-depth knowledge and understanding of research and applications in main business areas, this Ph.D. program will enable the graduate to apply the outcomes with either an academic or industry focus. In addition, the program’s applied nature helps aspiring faculty develop and build relevant curriculum for the next generation of business leaders. Graduates will be scholarly practitioners, able to execute the theories they teach and apply their research to real-world scenarios.

Mr. Rushdi Al-Ghalayini praised the signing of the memorandum with Arab American University, and noted that the Bank's support for Arab American University and its students comes as part of its social responsibility, which allocates a 5% of its annual profits.

In turn, Mr. Faleh Abu Arrah thanked and praised the Bank's support for the Ph.D. program in Business. Furthermore Mr. Faleh Abu Arrah noted that Arab American University is the first private university in Palestine established in 2000 with the cooperation of the University of California (CSU) in Stanislaus and the USU University in Logan. Adding that the university provides its educational services to more than 11,300 students, 40% of them are Palestinian citizens, and 55% are from the Palestinian 1948 Territories and 5% from foreign countries. Where AAUP provides a creative and educational environment that inspires students and faculty members to innovate and effectively participate in the society.