Governor of Palestine Monetary Authority Visits Housing and Arab Banks in Ramallah

to Review Work Progress under Coronavirus Outbreak

=Ramallah and Al-Bireh governorate – October 28, 2020 - His Excellency the Governor of Palestine Monetary Authority, Mr. Azzam Shawwa, visited the Housing Bank for Trade and Finance and the Arab Bank in Ramallah and Al-Bireh governorate accompanied by a number of executive directors of Palestine Monetary Authority, at the beginning of a program of visits to banks to be implemented during the coming period, with the aim of reviewing the progress of the work in light of the continuing outbreak of coronavirus and the preventive measures taken by banks for the safety of employees and clients. Mr. Shawwa was received by senior management teams at both banks, led by Mr. Osama Herzallah, Regional Director of the Housing Bank for Trade and Finance, and Mr. Jamal Hourani, Director of the Palestine Region of the Arab Bank.

Mr. Shawwa extended congratulations to Mr. Osama Herzallah on the occasion of his tenure as Regional Director of the Housing Bank for Trade and Finance and wished him all the best and success.

Mr. Shawwa was briefed during the two visits about the work at banks during the emergency period and the electronic services provided by banks, especially through ATMs and mobile banking.

Mr. Shawwa expressed satisfaction with the continuation of banking service under all circumstances even during the peak spread of the coronavirus, which carried a high health risk; however, the public interest required such continuation of banking service. Mr. Shawwa commended bank employees of various levels and their understanding of the importance of their role and work in these critical circumstances, which reflected positively on all clients. Mr. Shawwa also praised the role of Jordanian banks and their continued support for the Palestinian economy alongside Palestinian banks, especially in light of the pandemic, where they contributed to the Waqfit Ezz Fund and to provide funding to the Ministry of Finance to help pay the salaries of public sector employees.

Mr. Shawwa urged all banks to promote their electronic services and encourage clients to use them to reduce their presence in branches, reduce fees and commissions on all transactions made electronically via telephones or laptops, and the need to provide an ATM card to all clients, and promote the use of ATMs.

Palestine Monetary Authority has recently licensed payment services companies that mainly provided e-wallet service, which would enhance the completion of electronic transactions without the use of cash. Palestine Monetary Authority has also agreed to some banks to open bank accounts via internet service, activate electronic public service centers and address all the problems of clients through those means. The purpose of this is to maintain the safety of clients and employees under current circumstances, said Mr. Shawwa.