The Prime Minister Visits Palestine Monetary Authority, is Briefed about its Development Plans, Meets with the Governor, the Board of Directors and the Executive Staff

Ramallah and Al-Bireh Governorate, September 26, 2021

The Prime Minister, Dr. Mohammed Shtayyeh, visited today Palestine Monetary Authority and met with its Governor, Dr. Feras Milhem and his Deputy Mr. Mohammed Manasrah, the Board of Directors, the departments’ managers and executive officers of Palestine Monetary Authority. Dr. Milhem welcomed the Prime Minister, commending his visit and support for Palestine Monetary Authority and his interest in the details of banking. Dr. Milhem said that the cooperation between the Government and Palestine Monetary Authority was critical to maintaining financial stability in Palestine.

At the beginning of the meeting, the Prime Minister noted the importance of the strategic role taken by Palestine Monetary Authority in economic development, and the actions it has taken in this aspect such as supporting microenterprises, small and medium enterprises, particularly through Sustainability Fund and direct lending to productive sectors.

Dr. Shtayyeh also stressed the importance of integration and teamwork between the public and private sectors and encouraged the establishment of joint projects in infrastructure, agriculture, energy and other projects. The Prime Minister also called for the organization of a workshop involving the Government, investors and banks to come up with development ideas to support the national economy, including the development of the real estate developers’ sector.

The Prime Minister also indicated the Government's readiness to review the package of legislation necessary to develop work in the financial and banking sector and include it in the annual legislation plan.

Dr. Shtayyeh expressed his satisfaction with the strength and integrity of the banking system, which enabled it to play an active role in supporting the development process despite the obstacles and challenges facing its work. Dr. Shtayyeh also stressed the support of His Excellency the President and his pride in the role played by Palestine Monetary Authority and the banking sector in contributing to economic development.

Dr. Milhem briefed the Prime Minister on many important issues, notably economic developments in Palestine and growth prospects, plans of Palestine Monetary Authority to develop the system of financial and banking legislation, its plans to develop payment tools and investment in infrastructure, the actions of Palestine Monetary Authority to support SMEs, and its plans to reduce the use of banknotes, and the obstacles facing the financial sector and mechanisms to deal with that.

The Governor of Palestine Monetary Authority thanked the Prime Minister and the Palestinian Government for the continued support and joint cooperation at all levels, especially under the recent health and financial conditions of the country.