Governor of PMA Commences Extended Tour in Gaza by Opening Branch of FATEN and Meeting at Chamber of Commerce

H.E. Azzam Shawwa, Governor of the PMA, commenced today an extended tour in the Gaza Strip, accompanied by an economic delegation from the West Bank. The tour began with the official opening in the northern GS of the Beit Lahia branch of the Palestine for Credit & Development “FATEN”, followed by a meeting with the Chamber of Commerce of the Gaza Governorate. 

The General Manager of FATEN, Mr. Anwar Al Jayyousi, welcomed the Governor and the accompanying delegation, praising the PMA for the tangible efforts it exerts to regulate and develop the sectors under its supervision, including the specialized lending sector. He pointed out that the Palestine for Credit & Development “FATEN” is a leading institution in the area of microfinance, standing out among other institutions for its wide-spread network of 36 branches from Rafah in the south to Jenin in the north. Additionally, FATEN’s expansion is not solely geographical, but also extends to the development and diversification of its financial products as well as its non-financial services.
The Governor of the PMA expressed his pride at the role assumed by the institution in supporting the national economy through financing small businesses. Such businesses, he added, were of great significance to the process of economic and social development, the creation of new jobs and, consequently, the reduction of poverty and unemployment rates. He alluded to the pioneering step taken by FATEN recently in opening a branch in the Jalazone camp, the first branch of a specialized lending institution in steadfast Palestinian refugee camps. He noted that that was indicative of a marked and significant development in the branching policy of lending institutions.
Governor Shawwa added that the opening of the institution’s branch in Beit Lahia today and Al-Shaja’iyyeh and Bani Suhayla before that, on top of its six branches that have been operating in the GS for some time, is proof of the attention that the institution devotes to the Strip; the precious part of the homeland currently facing dire economic conditions. 

At the Chamber of Commerce in Gaza, H.E. the Governor and the accompanying delegation were received by Chairman Walid Al-Husari, members of the board of directors and a host of merchants, businessmen and industrialists. 

Mr. Al-Husari welcomed Governor Shawwa and the accompanying delegation, commending the Governor for his efforts to examine first-hand the Palestinian economic state of affairs, while distributing his attention across all Palestinian governorates and communicating closely with the various economic and social sectors. He also pointed to the successful tours which the Governor conducted to the GS since he took office as Governor of PMA.
In the speech he made during the meeting, Governor Shawwa touched upon the general economic conditions facing the Gaza Strip, assuring that special attention is given to it by the PMA and the banking system, due to the difficult economic conditions it undergoes as a result of the years-long Israeli-imposed and incessant siege; the slow pace of reconstruction and subsequent repercussions that cause great suffering across the entire spectrum of segments and sectors, most importantly the commercial and industrial sectors; and the soaring rates of poverty and unemployment among graduates in particular. 

H.E. Governor of the PMA called attention to the problem of lack of Israeli-currency small change in the GS, noting that the PMA is making every effort with all involved parties to resolve this crisis, as the PMA seeks always to maintain financial and monetary stability in Palestine and endeavors to bolster the economy, meet the needs of the Palestinian market and ease the suffering of the citizens.
The Governor of the PMA called upon the various segments in the society in the GS not to withhold small change, in order to make life easier for citizens and help them meet their needs.

H.E. the Governor visited the Jordanian field hospital and extended his congratulations to Commander of team “Gaza 41”, Colonel Bassam Al Saudi, and the rest of the team members on the occasion of the anniversary of the King’s coronation. He expressed his high regard to their role in offering medical aid in the GS since 2009, saying it was a true manifestation of the solidarity between both countries and of the spirit of Arab brotherhood.
The tour schedule includes visits to several banking, financial and economic events and activities, on the grounds of fostering intercommunication and interaction with all economic and social sectors and generating discussion regarding the relation with the PMA and the Palestinian banking system in order to identify major problems, impediments and challenges.