The Prime Minister Receives the Final Version of the National Financial Inclusion Strategy

Ramallah

Prime Minister Dr. Rami Alhamdallah praised the efforts of the Steering Committee of the National Financial Inclusion Strategy and all parties that contributed to preparing the Strategy. He said the government would give all kinds of support to implement the strategy once approved by the Council of Ministers. The Prime Minister had received at the Council of Ministers in Ramallah the final version of the National Financial Inclusion Strategy from His Excellency Mr. Azzam Shawwa, the Governor of the Palestine Monetary Authority, and His Excellency the Chairman of the Board of Directors of Palestine Capital Market Authority Dr. Nabeel Kassis for approval by the Council of Ministers. 

The Prime Minister affirmed the importance of the formation of the National Committee, which would implement the National Financial Inclusion Strategy to ensure economic justice and address several financial issues as well as develop financial services for the public.

His Excellency Mr. Azzam Shawwa said during the meeting with the Prime Minister that accomplishing the National Financial Inclusion Strategy was the outcome of the joint efforts of several committees from the public and private sectors as well as the civic society organizations with joint leadership from Palestine Monetary Authority and Palestine Capital Market Authority. The Strategy reflects all issues and obstacles facing the society to ensure access to financial services and to set up appropriate solutions to all issues, says Mr. Azzam Shawwa.

“I hope the Strategy would increase financial inclusion in Palestine from 36.4% among adults to a minimum of 50% by 2025. Palestine is the first Arab country to set up national strategy of financial inclusion in accordance with the best international standards and practices, which have been appreciated by several international financial institutions,” said Mr. Shawwa.  

Dr. Nabeel Kassis thanked the Prime Minister for the support and follow up. He said that speeding up the preparation and implementation of the financial inclusion strategy was one of the most important recommendations of Palestine Economic Policy Research Institute (MAS) Economic Conference of 2016 held under the auspices of the Prime Minister – who also headed the National Work Team that monitored following up on the Conference’s recommendations. Dr. Kassis also stated that the Palestine Capital Market Authority had taken all necessary preparations to carry out its role relevant to the Strategy and that it would work with partners to ensure the objectives of the Strategy. 

Dr. Kassis praised the teams from all ministries and agencies involved in the preparation for the Strategy especially Palestine Capital Market Authority, Palestine Monetary Authority, MAS, and the Palestinian Central Bureau of Statistics. He also pointed out to the financial assistance from the Alliance for Financial Inclusion – through PMA – and the technical follow up by GIZ, which enabled the preparation of the Strategy. Dr. Kassis hoped that the Council of Ministers would adopt the Strategy in the nearest time possible.