Palestine Monetary Authority and Palestine Techno Park Sign Memorandum of Understanding

Ramallah

H.E. Mr. Azzam Shawwa, Governor of Palestine Monetary Authority, and Dr. Abdul Latif Abu Hijleh, Chairman of the Board of Directors of Palestine Techno Park (PTP), signed today Memorandum of Understanding of cooperation and joint work to establish FinTech Innovation Lab in Palestine inside the Palestine Techno Park building. 

H.E. Mr. Azzam Shawwa praised the Palestine-India Techno Park project as major Palestinian project with international specifications, which would develop human capacities and strengthen creativity and distinction. 

H.E. Mr. Azzam Shawwa said Palestine had strong and effective banking system appreciated by international organizations and Palestine Monetary Authority exerted big efforts for the continuous development of the banking system and making it more modern and in line with international developments, including technological aspects. This has effective impact on financial and banking operations and the Memorandum of Understanding between PMA and PTP would have positive impact on the Palestinian economy, said Mr. Shawwa.    

Dr. Abdul Latif Abu Hijleh said the cooperation between PMA and PTP was the dawn of networking and cooperation with the public sector agencies to develop innovation and creativity in technology and knowledge and how they could influence other sectors; most importantly the financial and banking sector in Palestine. 

Mr. Laith Kassis, Techno Park Manager, said the Memorandum of Understanding of joint work aimed to establish FinTech Innovation Lab as part of PTP’s strategy to develop the largest possible number of creative and entrepreneurial labs to supply the Palestinian economy; especially the financial and banking sector, with its needs of technological interventions and industry, trade, and agriculture knowhow. This sector is one of the promising sectors that can be developed further in the future especially that Palestine faces major challenges while building its modern economy, says Mr. Kassis.

PTP currently communicates with relevant agencies to develop joint work and cooperation to establish FinTech Innovation Lab at Palestine-India Techno Park in accordance with market needs locally, regionally and internationally. 

PTP project was launched more than a year ago with generous donation from the Government of India, including the building of the Palestine-India Techno Park project, the infrastructure of the entire Park of 20 donums, which Birzeit University allocated to accommodate this national project to have central distinctive location to develop the different aspects of the knowledge industry in Palestine.