The new Board of Directors of the PMA, chaired by H.E. Governor Azzam Shawwa, was officially sworn in in front of H.E. President Mahmoud Abbas, may God protect him. The Presidential decree to appoint the new members of the board was issued on October 17, 2016.
H.E. the President congratulated the new board members, commending PMA’s performance and emphasizing its pivotal role in maintaining the soundness of the banking system and financial stability in Palestine.
H.E. Governor Shawwa said that the attention dedicated by H.E. the President to the PMA has had a largely favorable impact on its achievements, both past and present. He added that, owing to His Excellency’s directions, the PMA presently occupies a leading position amongst regional counterparts.
H.E. Governor Shawwa pointed that the PMA is close to finalizing the Central Bank bill to be signed into law by H.E. President Abbas. He added that the PMA will also be relocating soon into the new Palestine Central Bank building, to be officially opened by the President.
PMA’s board of directors is composed of nine members. H.E. Governor Azzam Shawwa is chairman of the board while Deputy Governor, Dr. Shehadeh Hussein, and Ministry of Finance Representative, Mr. Fareed Ghannam, serve as board members. Also serving as board members are Dr. Taleb Saree, Mr. Ibrahim Barham, Mr. Iyad Joudeh, Mrs. Samia Joubran Totah, Dr. Firas Melhem and Dr. Bashir Al Rayes.
The board of directors holds the highest decision-making authority and is assigned the responsibility to approve policies and oversee operation management in a manner that best implements the economic policy endorsed by the Palestinian Authority. Pursuant to the provisions of the Law, the board enjoys full powers needed to achieve its goals, and is responsible before the President of the Palestinian Authority.