Governor of Palestine Monetary Authority Visits Hebron, Signs MoU with Hebron University, and Holds Meeting at Hebron Chamber of Commerce and Industry

His Excellency Mr. Azzam Shawwa, the Governor of Palestine Monetary Authority, Mr. Ali Far’oun, the Director of Market Conduct Department at Palestine Monetary Authority, and Mrs. Irene Saadeh, the Director of Public Relations and Communication Department at Palestine Monetary Authority, visited Hebron Governorate and met with Hebron Governor Kamel H’meed and Governorate staff. Mr. Shawwa briefed Mr. H’meed and Governorate staff about the most recent banking developments and the work of Palestine Monetary Authority to preserve financial stability in Palestine. 

Mr. H’meed praised the work of Palestine Monetary Authority, the banking sector, and banks’ support of the Palestinian economy. Mr. H’meed also addressed the most recent developments in Hebron Governorate especially at the Old City of Hebron where the Governorate supported the resilience of the people.   

Mr. Shawwa and delegates from Palestine Monetary Authority visited Hebron University. Mr. Shawwa signed a memorandum of understanding, with Dr. Salah Al-Zaru, the President of Hebron University, aiming for joint cooperation to benefit the academic sector and students by conducting joint activities such as organizing lectures on educating finance and banking and raising awareness in this area. This is part of the efforts of Palestine Monetary Authority to enhance financial inclusion and organize practical training programs at Palestine Monetary Authority for the students of Finance and Management Faculty and to supply Hebron University with the reports Palestine Monetary Authority produced.

Mr. Shawwa said that the signing of the memorandum of understanding was to enhance relations between Palestine Monetary Authority and universities and to provide students and the academic sector with banking expertise and information. Dr. Al-Zaru asserted the importance of enhancing relations between Hebron University and Palestine Monetary Authority. Mr. Al-Zaru also praised the work of Palestine Monetary Authority and its corporate social responsibility in addition to its other tasks; most importantly protecting financial stability.     

Palestine Monetary Authority’s delegates toured Hebron University and its radio station. Mr. Shawwa and the delegates of Palestine Monetary Authority also visited Hebron Chamber of Commerce and Industry where they were welcomed by Mr. Mohammad Al-Herbawi, the Chairman of the Hebron Chamber of Commerce and Industry and members of the Board of Directors. The meeting addressed the difficulties Hebron traders face as a result of the Israeli measures. They also addressed ways of joint cooperation with Palestine Monetary Authority to assist traders. 

Mr. Shawwa met at the Hebron Chamber of Commerce and Industry with traders and money changers to be briefed about the needs of the money changing businesses, businesspeople, and traders. Mr. Shawwa praised the vitality of businesses in Hebron Governorate and the Governorate’s resilience in facing crises and difficulties. Mr. Shawwa pointed out to the success of Palestine Monetary Authority in ensuring financial stability on Palestine and its contribution to sustainable economic development. 

Mr. Far’oun briefed the meeting about the returned checks system and the electronic clearance program and the measures to be taken by Palestine Monetary Authority to limit the increase in the number of returned checks. Mr. Far’oun also talked about the Credit Registry System, which would assist traders to get information about clients’ solvency before accepting checks, which protects traders from the risks of non-payment. Palestine Monetary Authority had managed to connect a number of private sector firms to the Credit Registry System, according to Mr. Far’oun.  

The meeting debated issues related to the banking sector including challenges and difficulties facing different economic sectors.