Governor of PMA Meets with Representative of Canada
Azzam Shawwa: PMA implements most up-to-date banking supervisory standards
During a meeting today with the Representative of Canada to the Palestinian Authority, Katherine Verrier-Fréchette, Governor Azzam Shawwa affirmed that the PMA implements most up-to-date standards of banking supervision in accordance with Basel II and Basel II requirements.
H.E. Governor Shawwa added that, despite the prevailing economic conditions, the Palestinian banking system maintains robustness and stability, which has led international financial organizations, of which the International Monetary Fund and the World Bank are the most prominent, to repeatedly commend the PMA for its performance, in particular with regards to risk and crisis management and the promotion of financial inclusion.
H.E. Governor of the PMA expressed his gratitude to the Government of Canada for its support to the Palestinian people.
Mrs. Verrier-Fréchette said that her country works tirelessly to improve economic and social conditions in the West Bank and the Gaza Strip, expressing her joy at the progress and the stability attained by the Palestinian banking system, owing to the measures taken by the PMA.