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H.E. Governor Shawwa and High Level Delegation Conclude Extended Visit to Gaza Strip
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H.E. Governor Shawwa and High Level Delegation Conclude Extended Visit to Gaza Strip

At the conclusion of an extended visit to the Gaza Strip by a West Bank high level delegation which he presided, Governor of PMA H.E. Azzam Shawwa announced that the visit had achieved its goals, thanks to numerous meetings and events that took place throughout which discussions were quite fruitful. For each meeting, minutes were taken and key points noted down in order to come up with recommendations beneficial to the various participant institutions and parties. Governor Shawwa asserted that the PMA will follow up these recommendations, especially those in relation to money exchange firms and credit facilities extended to SMEs. 

The Governor pointed to the interaction between businessmen from the visiting delegation and their counterparts in Gaza, which permitted exploring possible cooperation opportunities and exchange of expertise. 

The 3-day tour program featured several banking, financial and economic activities and events, on the grounds of continuous communication and interaction across all Palestinian governorates and meeting with all economic and social sectors to discuss their relationship with the PMA and the Palestinian banking sector, and bring forward the most prominent challenges and obstacles they face. 

The tour commenced with a meeting in the Gaza Governorate Chamber of Commerce and Industry attended by a host of merchants, businessmen and industrialists. The delegation was received by Chairman of the Chamber of Commerce Walid Al Husari and members of the Board of Directors (BoD). 

Mr. Al Husari welcomed H.E. Governor Shawwa and praised the efforts he exerts to become better acquainted with the economic realities. He also touched upon the difficulties that face the merchant and their relationship with the banks. 

In his speech during the meeting, Governor Shawwa touched upon the general economic situation in the Gaza Strip given the years-long and enduring siege imposed by the Israeli occupation, the slow pace of the rebuilding process and the implications resulting in immense suffering to the various segments and sectors, in particular the trade and industry sectors, as well as the high rates of poverty and unemployment especially among the recent graduates. 

H.E. the Governor affirmed that the Gaza Strip is given special priority status by the PMA and the banking system owing to the difficult conditions it is facing. He alluded to the positive role played by the banks operating in the Strip during crises, especially during the most recent and devastating war, having secured round-the-clock operation and continuous feeding of ATMs, in spite of ongoing bombardment. In addition, banks had opened during the war whenever possible or when a cease fire was announced, which contributed to boost the resistance of citizens and helped them to secure requirements of daily life.

Later, convening in Gaza for the first time in ten years, a PMA Board of Directors meeting was presided by H.E. Governor Shawwa, where the most recent developments in relation to the banking sector were discussed. 

The PMA also organized a meeting of the Governor and his accompanying delegation with a large number of banking, economic and academic notable figures and activists from the civil society who contributed to the ongoing discussions. H.E. Governor Shawwa then presented a review of the efforts made by the PMA and the banking system to bring about monetary stability, contribute to maintenance of financial stability and promote national economic development in spite of the difficult political and economic conditions. He pointed to the advanced banking systems introduced by the PMA, saying that the PMA is still working to introduce other systems over the course of the year. 

On the second day of his tour, H.E. PMA Governor, Mr. Azzam Shawwa, opened a training workshop for employees of the banks and specialized lending institutions on the launch of the upgraded version (IV) of the Credit Registry System. The workshop was opened in presence of Mr. Hazem Abu Ramadan, representative of the Association of Banks in Palestine (ABP), and directors from PMA and with attendance of the group of employees from banks and lending institutions. The workshop was run by Mr. Ali Faroun, Head of the Consumer’s Relations and Market Conduct. In his speech during the workshop, the Assistant to the Governor for Financial Stability Affairs expressed his admiration of the outstanding performance of the banking system during the recent war against the Gaza Strip.
H.E. Governor Shawwa expressed his joy at opening of the training workshops on the use of the upgraded Version (IV) of the Credit Registry System, both in Gaza and days earlier in Ramallah, Nablus and Bethlehem. Governor Shawwa affirmed that the upgrade of the system was intended to better serve disclosure mechanisms as well as system users in a manner consistent with relevant international standards. He pointed out to the attendees that the workshop aimed at enhancing their capabilities and abilities by familiarizing them with the upgraded version of the system to make their work less cumbersome.

In his speech, Mr. Hazem Abu Ramadan pointed out that the Credit Registry System has become a fundamental cornerstone on which all banks and lending institutions rely for accurate examination and analysis of the credit situation of borrowers. As a result, it has become possible to reduce credit risks and maintain the quality of credit portfolios.

H.E. Governor Shawwa also presided the BoD meeting of the Palestine Deposit Insurance Corporation, a cornerstone of the financial security net. The meeting is the first BoD meeting to be held in Gaza since the establishment of the PDIC in 2013.

H.E. Governor Shawwa participated in two extended meetings organized separately by the ABP and the PDIC. Both meetings took place in presence of the accompanying delegation and a large number of bankers, economists and businessmen. Participants exchanged points of views regarding the developments in the banking business; the ways to improve the economy in the various governorates of Palestine and the significance of public-private partnership (PPP) to local communities and to promoting development, in particular under the current circumstances. 

Accompanied by a several members of the delegation and PMA directors, H.E. the Governor paid a visit to the Atfaluna Society for Deaf Children. Chairman of the Board Mr. Sharhabeel Al Za’im, and its General manager, Mr. Naem Kabajeh, delivered a detailed presentation on the various departments, activities and programs of the society, which serve an important segment of the Palestinian society. The presentation showed how numerous deaf children were educated, trained and rehabilitated by the Atfaluna Society, facilitating their integration into society, allowing them to disclose their talent and creativity. 

During the morning of the third day of the tour, H.E. Governor Shawwa opened two branches of the Quds Bank in Rafah and Jabalia, in participation with the Chairman of the Board Akram Jrab and the General Manager Samih Sbeih and in presence of PMA directors and a large number of formal organizations, dignitaries and businessmen. 

H.E. Governor Shawwa emphasized the importance of expansion of Palestinian banking activity by increasing the number of branches of banks operating in Palestine. He referred to the opening of two new Quds Bank branches as being part of the expansion and geographical outreach strategy which the bank seeks to implement over the current year and following years. The strategy is being though opening of branches and offices in the various towns and cities in Palestinian governorates. The Governor expressed PMA’s high regard for this achievement, which it considered an additional step by the bank to assume more effective role in development and to lighten the burdens that weigh upon businessmen and companies, given that the bank’s assets comprise 13 per cent of total assets of local banks. 

From his side, Mr. Jrab affirmed Quds Bank’s commitment to continue along its course of progress, as a strategic and enduring approach. Such an approach, he added, manifests itself in the continuous upgrade of work methodologies to better align the bank with the latest banking developments and provide the best service to the citizen within the frame of a bank philosophy that is based on expansion and outreach. 

He pointed out that the opening of the two bank branches is an embodiment of the branching policy implemented by the bank over the years, bringing the number of Quds Bank branches and representative offices to 31, as the bank ceaselessly seeks to reach out to the Palestinian citizen across the different regions and rural areas.

In addition, a number of members of the visiting delegation conducted a field tour of the city of Gaza, during which they visited the Arts and Crafts Village of the Municipality of Gaza, Qattan Centre for the Child and the locations of Al Thafer residential tower and the Italian Compound, destroyed by Israeli warplanes during the recent war on Gaza. 

The delegation visited the electricity power station in Gaza that was bombarded by Israeli occupation forces during its last assault on the Gaza Strip, causing grave damage and a devastating fire which raged for four days. The guests were briefed by the General Manager Dr. Rafiq Maliha. They also visited the renowned police station next to which Mohammad Aldurra was martyred. They then visited Shajaiyyah district of Gaza destroyed during the recent Israeli war, whose residents are still suffering the effects of this destruction to this day. 

The field tour also included visiting historical monuments in Gaza such as Hammam Al Samra, the house where Imam Al Shafi’i was born, the Greek Orthodox Church of Saint Porphyrius, Al Omari Mosque –Gaza’s oldest and grandest mosque- and the Qasr Al Pasha Museum. 

The West Bank delegation comprised of members of the Board of Directors of the PMA; members of the Board of Directors of the Palestine Deposit Insurance Corporation (PDIC); members from each of the Association of Banks in Palestine, The National Bank (TNB), the Palestine Investment Bank, the Palestine Islamic Bank and Quds Bank; the Director General of the Palestinian Shippers’ Council; the National Insurance Company; Dar Al Shifa Pharmaceuticals (PHARMACARE); National Aluminum and Profiles Company (NAPCO); Al Nasher agency; Khatib and Alami Co., Palestinian Federation of Businessmen Associations PFBA; chairman and members of civil organizations and professors of economics. 
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