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Under the Auspices and Participation of His Excellency the Governor of Palestine Monetary Authority: The National Bank Inaugurates Branch in Salfit Governorate
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Under the Auspices and Participation of His Excellency the Governor of Palestine Monetary Authority: The National Bank Inaugurates Branch in Salfit Governorate

October 18, 2020 – Under the auspices and participation of His Excellency the Governor of Palestine Monetary Authority, Mr. Azzam Shawwa, the National Bank inaugurated a branch in Salfit governorate.

Mr. Shawwa congratulated the National Bank on the achievement during the inauguration ceremony organized by the National Bank on this occasion, with the participation of the Governor of Salfit Major General Abdullah Kameel, the Chairman of the Board of Directors of the National Bank Mr. Talal Nasser al-Din, the Mayor of Salfit Mr. Abdul Karim Al Zubaidi, President of the Chamber of Commerce and Industry of Salfit Mr. Fawaz Shehadeh, and officials from security services.

Mr. Shawwa pointed out that the policy of banking branching was in line with the financial inclusion strategy of Palestine Monetary Authority to deliver banking services to all Palestinian areas. The banking system in Palestine had qualitative initiatives in branching, including in Jerusalem, the capital of beloved Palestine, and in marginalized areas, including some refugee camps, according to Mr. Shawwa.

 

The total direct credit of banks operating in Salfit governorate amounted to about $70 million, the deposits of customers with banks operating in the governorate amounted to about $162 million, and the number of branches and offices of banks in the governorate reached 9, added Mr. Shawwa.

 

Mr. Shawwa explained that Palestine Monetary Authority's achievements were significantly reflected in the performance indicators of the Palestinian banking system and its active contribution to developments in the Palestinian economy. The net assets of the banking sector amounted to about $17.8 billion, direct facilities amounted to just over $9.8 billion, clients’ deposits amounted to about $14 billion, the equity rights of banks to just over $1.96 billion, and the paid in capital reached about $1.21 billion, said Mr. Shawwa.

 

Mr. Shawwa stressed that despite the size and length of the current crisis, Palestine Monetary Authority was working to provide an appropriate environment for maintaining financial and banking stability in a way that ensured that banks played their role in helping support investment and achieve high growth rates in order to ensure their contribution to sustainable economic development, increased employment opportunities and improved living standards within Palestine.

Mr. Shawwa said that Palestine Monetary Authority, with God’s grace and the care and guidance of His Excellency the President, had withstood -along with the banking sector - the most difficult and darkest moments, as well as many financial crises that Palestine had undergone, especially with regard to the piracy of clearance revenues by the occupation. Banking service continued to be robust and the banking system remained strong under all circumstances. The banking sector had an honorable role and had taken the initiative in all crises. Palestine Monetary Authority and the banking system will continue to do their utmost to overcome the repercussions of the current crisis and alleviate the burdens of citizens of all segments and sectors.

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