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|b This paper aims at accumulating further vision and conception while considering at the same time the practical bases pertaining to the creative developmental role of the financial sector. Consequently this paper constitutes an integral part of the research which was undertaken and submitted by the researcher to the Islamic university Conference On “ Investment and Financing In Palestine”, Held on 8-10 May, 2005. This paper elaborates more on the developmental role played by the financial sector using the economic development analytical tools to define the basis to evaluate the development impact of the financial sector activities within the concept of development creation and development diversion( A concept created by Economist Doser( This concept is applied on financial sector activities directed to the achieve food security, Industrialization, building technological base, foreign trade, services, and playing a leading role in facing the very dangerous Money Laundry problem which is penetrating into varies activities and leaving notable political, economic as well as social deep negative impact. Reference is also directed to the role played by the Islamic banking and Insurance activities in achieving the creative Development. This paper requiers more analytical works, however it concludes with a vision towards directing financial sector activities to achieve development creation rather than development diversion. This paper concludes also by defining needed integrated strategy and policies enabling the financial sector to play its creative role while defining the other determinants, such as the role of governance, security, peace, Palestinians in diaspora Fouad Beseiso, Fundamental Basis for Effective Development Role of Banking Sector, Paper submitted to Islamic University Conference On Investment and Financing in Palestine, 8-10 May, 2005, Gaza- Palestine.
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