PMA Governor meets representatives of money changers at the headquarters of the Federation of Palestinian Chamber of Commerce and Industry

Ramallah – His Excellency Mr. Azzam Shawwa, the Governor of Palestine Monetary Authority, met today in Ramallah with representatives of money changers from northern governorates. The Head of the Federation of Palestinian Chambers of Commerce and Industry/ Head of Chamber of Commerce and Industry in Ramallah and Al-Bireh Governorate, Mr. Khaleel Riziq, and members of the Board of Directors of the Chamber, and Dr. Riyad Abu Shehadah, PMA Governor’s Assistant for Financial Stability Affairs, attended the meeting.

Mr. Khaleel Riziq welcomed His Excellency the Governor and the accompanying delegates. He praised the role of PMA in developing the work of the Palestinian banking sector and local economy by instructing banks and lending institutions to develop their banking services and products to support local commercial and industrial investment opportunities; especially micro, small, and medium enterprises.

Mr. Shawwa commended the efforts of the Federation of Palestinian Chamber of Commerce and Industry in strengthening economic activities and promoting investment opportunities and supporting the needs of business people and industrialists and solving their problems. Mr. Shawwa affirmed the importance of the money changers businesses in supporting national economy and their efforts and compliance with the instructions and standards of PMA directed to money changers that contributed to financial stability in Palestine. 

Mr. Shawwa addressed the efforts of PMA to safeguard the performance of the Palestinian banking sector through the financial stability strategy of enhancing financial inclusion and spread of banks and ensuring access to all to banking services and products and developing effective and safe electronic payments systems and its impact on sustainable economic development.

Money changers representatives briefed Mr. Shawwa about the needs and obstacles of the money changing businesses. Mr. Shawwa discussed with the representatives means of joint cooperation to overcome the obstacles and to regulate the money changing sector. Mr. Shawwa stated that PMA was ready to organize periodic meetings with representatives of money changing businesses in 2018 for continuous communication and information about the needs of money changers and review such needs.