On Wednesday the 9th of May, the governor of the Palestine Monetary Authority, Dr Jihad Al Wazir, received in his office in Al-Bireh the governor of the Bank of Canada, the Chairman of the Financial Stability Board and a member of the Group of Seven (G-7) major industrial countries, the honorable Dr. Mark J. Carney.

Dr. Al Wazir has briefed his guest about the economic and financial conditions in Palestine, including the developments in the work of the Palestine Monetary Authority and the banking system.

Dr. Carney has also discussed the deliberations and the results of the Financial Stability Board meetings with Dr. Al Wazir, highlighting the global financial crisis and its impact on Europe, and on mechanisms for development of the global economy and for the provision of liquidity to the global markets.

At the end of the visit, Dr. Carney praised the performance of the Palestine Monetary Authority and its progress in spite of the difficulties and challenges, looking forward to enhance the cooperation between the Palestine Monetary Authority and the Bank of Canada. Dr. Al Wazir thanked Dr. Carney for his visit noting the excellent relationship between the Canadian financial institutions and the PMA and also the visit by the Canadian Minister of Finance to the PMA earlier this year.