Steering Committee for the Establishment of the National Strategy on Financial Inclusion Holds its Third Meeting

The Steering Committee for the Establishment of the National Strategy on Financial Inclusion in Palestine yesterday, May 17, held its third meeting to discuss a number of agenda items. The meeting was jointly chaired by H.E. Azzam Shawwa, Governor of the PMA, and H.E. Dr. Nabil Qassis, Chairman of the Board of the Palestine Capital Market Authority (PCMA). The meeting was attended by most of the members of the Committee, composed of members from the PMA, the PCMA, the Association of Banks in Palestine, the Ministry of Education and Higher Education, the Banking Services Consumer Society, the Palestinian Network for Small and Micro Finance Sharakeh, the United Nations Relief and Works Agency UNRWA, Palestine Exchange, the Palestine Union of Securities Trading Companies and the Palestinian Insurance Federation. 

H.E. Governor of the PMA welcomed the attendees, commending them for their role and endeavors. He briefed the committee members on the latest achievements made by the PMA over the past year and until today. The Governor of the PMA stressed the particular importance of the effective strategic partnership with the PCMA, affirming that the PMA will maintain collaboration with all institutions involved in promoting financial inclusion as a concept that serves the interests of the general public in achieving sustainable growth of the national economy and also in implementing the project for the establishment of a national strategy on financial inclusion. 

From the PMA, Mr. Ali Faroun and , from the PCMA, Mr. Bashar Abu Zarour presented the Technical Report to members of the steering committee, highlighting the progress and the latest developments in the project to establish the national strategy t, which is expected to be finalized before the end of October 2016. 

Within the context of setting up the task groups for the establishment of the strategy, H.E. Dr. Nabil Qassis, as well as the other members of the steering committee, emphasized the significance of the formal sector and the need to finalize the creation of the committees to include in their membership all the public and private sectors involved. At the end of the meeting, decisions were made by the Committee regarding agenda items; most importantly the Report on the work of the technical committee in the previous period which was approved.