Governor Shawwa Briefs Governor of the Central Bank of Netherlands on Latest Developments in the Palestinian Banking Sector
Governor of the Palestine Monetary Authority (PMA) Azzam Shawwa met in his office in Ramallah today with the Governor of the of the Dutch Bank (De Nederlandsche Bank) Klaas Knot and his accompanying delegation. The meeting was also attended by Dr. Shehadeh Hussein, Deputy Governor of PMA; Dr. Riyad Abu Shehadeh, Assistant to the Governor for Financial Stability Affairs and Mohammad Atallah, Director of Research and Monetary Policy Department.
Governor Shawwa briefed his guest about the economic situation in Palestine and the latest developments and achievements of the Palestinian banking sector. Governor Shawwa also touched upon the efforts made by the PMA to promote the sector’s stability and robustness by implementing international best practices and standards of banking supervision; most importantly the Financial Action Task Force FATF Recommendations on anti-money laundering (AML) and counter-terrorist financing (CFT).
Governor Shawwa commended the Palestinian-Dutch relationship, stressing the need to further strengthen mutual ties and exchange of banking expertise, as part of fostering the banking relations of Palestine with the different interested parties, both internationally and regionally, in a manner that serves the best interest of the national economy and the Palestinian banking system.
From his side, the Governor of the Dutch Bank praised the evident development of the Palestinian banking sector, expressing his appreciation for PMA’s efforts. He conveyed the readiness of the Dutch Bank to promote mutual cooperation and the exchange of expertise in the area of banking.
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