Palestine Monetary Authority Concludes Training Course on Audit Review Process

Ramallah – His Excellency Mr. Azzam Shawwa, the Governor of Palestine Monetary Authority, concluded “Audit Review Process” training course for the employees of Palestine Monetary Authority held at the headquarters of Palestine Monetary Authority in Ramallah and Gaza – via videoconference. The training course was 5 days long and was attended by two experts from the World Bank Mr. Didier Kassir and Mr. Roland Raskopf – who lectured in the workshop – and directors from Palestine Monetary Authority and employees from the Supervision and Inspection Department. 

Mr. Shawwa said that the training course was part of the 2018-2019 Plan of technical assistance provided by the Middle East Regional Technical Assistance Center (METAC) to Palestine Monetary Authority. Mr. Shawwa said the training was to enhance the knowledge of the employees of the Supervision and Inspection Department at Palestine Monetary Authority in topics and skills of the process of supervisory review and evaluation to review internal audit process of capital adequacy prepared by banks in accordance with the requirements of the instructions 7/2016 of Basel II concerning capital adequacy requirements.

The training course addressed a number of topics including internal evaluation of capital adequacy, which is conducted by banks, and audit review process, which is conducted by Palestine Monetary Authority to ensure soundness of banks’ assessment of their capital adequacy to face risks.    

Palestine Monetary Authority has recently started developing instructions related to Basel III, most prominently, updating and issuing instructions of the rules and practices of governance of banks in Palestine and adjusting and developing instructions for reserve cyclical fluctuations to be issued in line with relevant guidelines of Basel Committee and issue instructions for monitoring tools of liquidity risks and financial leverage instructions.