Nine microfinance institutions and programs shared the belief in the power unity creates, and realized the need to establish a networking body that coordinates, represents and provides services to active MFIs in the West Bank and Gaza Strip

The Palestinian Network for Small & Microfinance (herein referred to as “Sharakeh”) was registered as a non-governmental not-for-profit organization at the Palestinian Ministry of Interior, under the registration number RA-22248-B

Sharakeh managed to create a strong foundation for an interactive relationship with the Palestine Monitory Authority (PMA), the monitor and supervisor of the financial service providers, as declared by the Palestine National Authority (PNA) late 2007.

Sharakeh re-visited and developed its governance structure, decreased the number of representatives on its board of directors from nine to seven, and increased its representation of the sector by accepting four additional MFI’s as associate members.