PMA Governor meets representatives of banks and money changers and lending institutions in Gaza Strip at the end of his visit to Gaza

Gaza – His Excellency Mr. Azzam Shawwa, the Governor of Palestine Monetary Authority, and accompanying delegates met today in Gaza with representatives of banks. Members of the Board of Directors Iyad Judeh and Samia Totah attended the meeting as well as Dr. Shehadah Hussein, Deputy PMA Governor; Dr. Riyad Abu Shehadah, PMA Governor’s Assistant for Financial Stability Affairs; Mr. Ali Far’oun, the Director of Market Conduct Department; Mr. Mohammad Al Barghouti, the Chairman of the Board of Directors of the Association of Banks in Palestine; and Mr. Zaher Al Hmouz, the Director General of the Palestine Deposit Insurance Corporation attended the meeting.

The meeting addressed the latest developments in the work of Palestine Monetary Authority and the banking system.

Mr. Shawwa said that the Board of Directors of PMA had decided during Board’s meeting in Gaza to grant approval to the Bank of Palestine to operate again its branch at Rafah Border Crossing. Mr. Shawwa briefed the meeting about the effective support banks provide to the national economy, citizens, and the society and the expected contributions of banks in the Gaza Strip reconstruction under reconciliation.    

Mr. Shawwa met with representatives of money changers and was briefed about the problems and obstacles the money changing business faced in Gaza Strip. Mr. Shawwa discussed with the representatives the mechanisms of solving the problems and obstacles. Mr. Shawwa praised the role money changing businesses play in building the national economy.

Mr. Shawwa held a separate meeting with specialized lending institutions’ representatives from Gaza Strip. Mr. Shawwa affirmed in the meeting the role of these institutions in the growth of the national economy especially through supporting small and medium enterprises. Mr. Shawwa pointed out the importance of small lending as means of reducing unemployment and poverty. 

Mr. Shawwa praised the achievements of the lending sector in Palestine. The financial indexes reflect the growth and contributions of the lending sector in serving the Palestinian national economy and society. Mr. Shawwa said that the overall loan portfolio at the end of September 2017 was $210 million; including $67 million for Gaza Strip and that the number of lending institutions authorized by PMA was 6 with 77 branches including 20 in Gaza Strip. 

The visit of Mr. Shawwa included opening a training workshop for PMA staff from Gaza and Ramallah to boost the spirit of team work. Moreover, Mr. Shawwa visited non-governmental organizations, including Gaza Sports Club and Palestine Avenir Foundation.

Mr. Shawwa also visited the home of the Late President Yasser Arafat where he was welcomed by Major General Orabi Klob, the Director General of Yasser Arafat Foundation. Mr. Klob briefed Mr. Shawwa about the historical phases of Yasser Arafat’s life using pictures, home belongings, and the museum.

*****