Shawwa: Banking System Is Robust and Stable Despite Current Economic Conditions
H.E. PMA Governor Meets with U.S. Consul General
In a meeting at PMA headquarters with U.S. Consul General in Jerusalem Donald Blome, H.E. Governor of the PMA, Mr. Azzam Shawwa, affirmed the robustness and stability of the Palestinian banking system in spite of the current economic conditions.
H.E. Governor Shawwa reviewed legislative, regulatory and supervisory efforts made by the PMA in order to stay abreast with recent developments in banking. He added that international financial institutions have commended the PMA for its performance in the areas of risk management and financial inclusion; particularly the World Bank and the International Monetary Fund.
The Consul General expressed his joy about the advancement in the banking system and its stability owing to PMA endeavors. He pointed to the positive role played by USA to improve economic conditions in the West Bank and the Gaza Strip and pledged to deliver additional support and aid to the Palestinian people.