Mr. Shawwa Heads Delegation of Bank Officials in Gaza Strip Visit

H.E. Mr. Azzam Shawwa heads a delegation of PMA directors and bank managers from Ramallah in a 3-day visit to Gaza Strip to examine the situation of the banking sector in Gaza Strip and discuss ways of expanding banks’ functions in Gaza in near future to meet the needs of the Gaza reconstruction process especially after the Palestinian national reconciliation. H.E. Mr. Azzam Shawwa and delegation first visited the Palestinian Businessmen Association in Gaza to meet with the Head of the Association Ali Al Hayek and the members of the Board of Directors. PMA Governor congratulated the Palestinian Businessmen Association in Gaza on electing new Board of Directors. He praised the Association’s role in developing the economic and trade sectors, attracting investments, and encouraging the private sector initiatives, which contributed to building and developing the economy of Gaza Strip. 

The Head of the Association Ali Al Hayek praised PMA’s work in developing the banking sector and supporting the economic sector through facilities in banking transactions of businesspeople and traders. He said that the Palestinian Businessmen Association in Gaza would continue the policy of overcoming obstacles businesspeople face and ensure investment opportunities of future economic projects.

Meeting banking and economic sectors’ representatives and academics

PMA organized meeting at the Roots Hotel in Gaza with Mr. Shawwa, Marina Weis, the Director of the World Bank in Palestine, Matthias Schmale - Director of Operations – UNRWA, university presidents, and faculties of commerce deans, heads of economic institutions and federations, and representative of banks, currency exchange businesses, and lending institutions in Gaza Strip. 

H.E. Mr. Azzam Shawwa said in his speech in the meeting that PMA stayed with Gaza all the time even during the division and that the banking system in Palestine is one and operates professionally and independently. He added “We are optimistic about the reconciliation and national unity. The past ten years are gone now; they will be a thing of the past forever, we hope.” Banks will have great role in Gaza reconstruction under the national reconciliation, and that the visit of the banking sector representative to Gaza would examine means of expanding banking activities in line with the new era of Gaza reconstruction and to examine the most persistent issues of the banking sector and the economic situation in Gaza Strip, according to Mr. Shawwa. 

The PMA Governor also pointed out the role of the banking sector in running the economy and financing the economic development plans in light of the challenges facing the requirements of the Palestinian economy development. He said PMA would continue to safeguard the financial stability of the Palestinian banking sector by initiating developed programs, systems, services, developed electronic payment system, cellular phone payment services, electronic clearance, and ensure financial inclusion. PMA was the process of becoming a central bank before the year ends. PMA Governor said PMA was preparing for the Palestine International Banking Conference on Woman Banking in Jericho on November 20 in cooperation with the Association of Banks in Palestine, International Finance Corporation, and the European Palestinian Credit Guarantee Fund. The conference aims to pinpoint the importance of boosting women’s participation in the banking sector and in improving the indicators of economic development and sustainable development as well as improving living standards and equality and social welfare in the society. 

Marina Weis, the Director of the World Bank in Palestine, said in her speech in the meeting that the World Bank was a supportive partner of the Palestinians in the West Bank and Gaza Strip. The strategy of the World Bank support will focus of investment and job creation, says Weis.