The Deputy Governor of Palestine Monetary Authority Welcomes the Swiss State Secretary for International Finance

Dr. Riyad Abu Shehadah, the Deputy Governor of the PMA, welcomed today, on behalf of H.E. Mr. Azzam Shawwa, the Governor of PMA,Jörg Gasser, Swiss State Secretary for International Finance, Mr. Julien Thöni, Representative of Switzerland to Palestine, his deputy, and Herbert Scheidt, the Chairman of the Swiss Bankers Association. Dr. Riyad Abu Shehadah extended greetings of H.E. Mr. Azzam Shawwa, the Governor of PMA, to the Swiss delegation and briefed them about the strength and soundness of the Palestinian banking system and the efforts of PMA to develop the system and to ensure financial stability and inclusion and commitment to international banking foundations and standards. The purpose of the delegation’s visit is to address issues relevant to financial technology (FinTech) and the required environment to develop such technology. The Swiss State Secretary described the Swiss experience and the measures taken by Switzerland to develop its financial services especially in the area of FinTech. The Deputy PMA Governor described the steps taken by PMA to develop payment systems in Palestine and the national strategy for electronic payments, which the Council of Ministers had approved including payments through using mobile phones and electronic clearance. The Deputy PMA Governor also addressed building the employees’ technical capacities in financial technology and the opportunities of using crypto currencies in accordance with effective laws in Palestine. 

Mr. Jörg Gasser praised PMA and the Palestinian banking sector as cornerstone for economic development in Palestine. Mr. Gasser also praised the development of relations with PMA and expressed readiness to provide PMA with technical assistance, with specialized experts, in FinTech to boost the employees’ capacities in this area.