Governor of Palestine Monetary Authority Meets with Representative of Canada in Ramallah

Ramallah and Al-Bireh Governorate – August 26, 2020 - His Excellency the Governor of Palestine Monetary Authority, Mr. Azzam Shawwa, met with the Representative of Canada in Ramallah Ms. Robin Wettlaufer.

Mr. Shawwa briefed Ms. Wettlaufer about the most important developments and measures taken by Palestine Monetary Authority to mitigate the economic repercussions of the COVID-19 pandemic crisis and the irregular payment of salaries of public sector employees, across the sectors and segments of the Palestinian society, by issuing instructions to the banking sector to deal with citizens in light of the current crises, as well as encouraging banks to direct social responsibility budgets to support the efforts of the government and the health sector to counter COVID-19 pandemic and reduce its spread in Palestine.

Mr. Shawwa also briefed Ms. Wettlaufer about the Sustainability Program that provided financing to SMEs that had been economically affected by COVID-19 pandemic. The Program is currently being implemented by banks and specialized lending institutions, which will help the Palestinian economy to recover by enabling and revitalizing those enterprises and maintain employment.

Mr. Shawwa stressed the need to strengthen the bilateral relationship between the two sides and exchange banking experiences, within the framework of the development of Palestinian banking relations with other countries.

Ms. Wettlaufer expressed concern about the financial situation and welcomed the efforts of Palestine Palestinian Monetary Authority to ensure the stability of the banking sector and financial inclusion, especially at this time of crisis, and confirmed Canada's continued support for Palestinian women and young entrepreneurs.