The PMA Governor Participates in the 48th Session of the Arab Monetary Fund Governors' Council and Holds a Series of Meetings to Strengthen Financial and Banking Cooperation

Within the Framework of the Joint Annual Meetings of Arab Financial Institutions

Mr. Yahya Shunnar, PMA Governor and Palestine's Governor at the Arab Monetary Fund, participated in the 48th session of the Arab Monetary Fund Governors' Council, held in the State of Kuwait.

Alongside the Governor, Mr. Omar Al-Bitar, Minister of Finance; Dr. Nasser Qatami, Advisor to the Prime Minister on Arab Funds; and Mr. Rami Tahboub, Ambassador of the State of Palestine to Kuwait, participated in the joint annual meetings of Arab financial institutions. These meetings were attended by Arab finance ministers, central bank governors, and heads and representatives of Arab and regional financial institutions, who discussed the most pressing economic and financial issues in the region.

On the sidelines of the meetings, the Palestinian delegation held a series of official meetings aimed at strengthening financial and banking cooperation frameworks between Palestine and several Arab countries and financial institutions. They also presented efforts being made in the field of digital transformation in both services and payments.

The delegation began its series of meetings with Mr. Abdullah Ali Al-Yahya, Kuwait’s Minister of Foreign Affairs, expressing the appreciation of the State of Palestine for Kuwait’s steadfast support of the Palestinian cause and briefing him on the challenges faced by the Palestinian people.

In turn, the Kuwaiti Minister of Foreign Affairs emphasized his country's continued support for Palestine and its commitment to assisting economic development efforts.

Furthermore, the Palestinian delegation met with Mrs. Nora Al-Fassam, the Kuwaiti Minister of Finance, where they discussed prospects for bilateral cooperation in financial and banking sectors and the exchange of institutional expertise. The delegation expressed its gratitude to the State of Kuwait and its people for their ongoing support for the resilience of the Palestinian people. Minister Al-Fassam confirmed her country's readiness to enhance cooperation with Palestine and support efforts to develop the infrastructure of the Palestinian financial sector.

In the context of bilateral meetings, the Palestinian delegation also met with Mr. Abdel Karim Boualzard, Algerian Minister of Finance, to discuss ways to enhance cooperation between the two countries in the financial sector. Both sides praised the historic relations between Palestine and Algeria. The Algerian Minister reaffirmed his country's readiness to provide technical support to Palestine in the fields of financial development.

In another meeting, the Palestinian delegation met with Mr. Bader Mohammed Al-Saad, Chairman of the Board and Director of the Arab Fund for Economic and Social Development. The two parties discussed efforts to support SMEs in Palestine. Mr. Al-Saad commended the role of the PMA in promoting financial stability and affirmed the Fund's readiness to explore the possibility of contributing to the financing programs managed and supervised by the PMA as part of efforts to support resilience and encourage economic growth.

In addition, the Palestinian delegation met with Mr. Walid Al-Bahr, Director General of the Kuwaiti Fund for Arab Economic Development. The meeting focused on mechanisms for cooperation to support development projects in Palestine and expand partnerships with relevant Palestinian institutions. Mr. Al-Bahr emphasized the Fund's commitment to supporting Palestinian development priorities.

Moreover, the Palestinian delegation held a meeting with Mr. Abdulaziz Ibrahim Al-Mulla, Executive Director of the World Bank Group. They discussed ways to strengthen joint cooperation in providing financial and technical support for development projects in Palestine and enhancing partnerships with international financial institutions to support the Palestinian economy across various sectors.