The PMA Governor Discusses Developments of the Banking Sector in Palestine with Australia's Representative

His Excellency Mr. Yahya Shunnar, the PMA governor, met today at the PMA’s headquarters with Mrs. Bethany Randell, Australia’s Representative to Palestine. The meeting was attended by Deputy Governor Mr. Mohammed Manasrah, along with several officials from both sides.

During the meeting, the Governor reviewed the latest developments in the Palestinian banking sector and the challenges it faces—particularly the ongoing ILS accumulation crisis and the Israeli side’s refusal to receive ILS deposits from Palestinian banks to replenish their correspondent accounts. He emphasized the negative repercussions of this issue on the continuity of banking services for citizens and the ability to meet the needs of various economic sectors.

The Governor also briefed the Australian Representative on the measures initiated by the PMA to alleviate the severity of this crisis, as well as the steps being taken to maintain the stability of the financial system.

Governor Shunnar emphasized the critical role of the international community and its contribution in addressing this crisis, in addition to maintaining correspondent banking relationships and supporting the efforts of the PMA to enhance the capacity of the Palestinian banking sector to serve the economy and the Palestinian private sector.

For her part, Mrs. Bethany Randell expressed her appreciation for the efforts exerted by the PMA and affirmed her country’s readiness to provide the necessary support to ensure the continuity and stability of the banking system in Palestine.