Palestine Monetary Authority Joins Conference on “The Role of Central Bank of Iraq in Ensuring Financial and Economic Stability”
Baghdad – Iraq - His Excellency Mr. Azzam Shawwa, the Governor of Palestine Monitoring Authority, and Dr. Riyad Abu Shehadah, PMA Governor’s Assistant for Financial Stability Affairs, and Mr. Wael Lafi, the Financial Follow-Up Unit Director participated in the 3rdannual conference of the Central Bank of Iraq. The two-day conference dubbed “The Role of Central Bank of Iraq in Ensuring Financial and Economic Stability” started on Saturday in Baghdad under the auspices of Dr. Ali Mohsen Al-Allaq, the Governor of the Central Bank of Iraq.
Dr. Azzam Shawwa and PMA delegate met with Dr. Ali Mohsen Al-Allaq during the conference to address joint cooperation. PMA and the Central Bank of Iraq signed memorandum of understanding few months ago to develop banking and financial functions in Iraq and Palestine.
Dr. Abu Shehadah briefed the meeting about the distinctive Palestinian experience in financial stability and the positive outcomes of employment and improving the economic situation in Palestine. Dr. Abu Shehadah also talked about the experience of the Credit Information Office and the jobs it created and the awareness in finance, banking, and financial inclusion and the positive economic impact of that on banking sector and on developing banking services especially designed for women and marginalized people and remote areas.
Dr. Abu Shehadah also briefed the meeting about the creation and development of the banking sector and Palestine Monetary Authority and its tasks that were in line with the best international practices and the contribution of the Palestinian banking sector to the development of the national economy and job creation through the financing and lending programs.
Mr. Wael Lafi met his Iraqi counterpart and discussed Iraqi and Palestinian experience in combating money laundering and terrorism financing in line with recent international standards.
Mr. Azzam Shawwa and PMA delegate also met with the Palestinian ambassador to Iraq Mr. Ahmad Aqil who briefed them about the situation of the Palestinian community in Iraq.
His Excellency Mr. Shawwa congratulated the Iraqi people and the Governor of the Central Bank of Iraq, on behalf of President Mahmoud Abbas, in a televised message on Iraqi official channel, on the liberation of Iraq from terrorism and ensuring full victory over terrorists and Iraqi people Day of Triumph celebrations.
The conference aim is to enhance relations between monetary policy instruments and macroeconomy variables and the role of the financial sector. This is conducted through several aspects including public debt sustainability in Iraq and ensuring financial inclusion and methods of incentivizing the financial sector using monetary policy instruments and the financial viability of banks.
2599