Governor of Palestine Monetary Authority Discusses with the Minister of Labor Ways of Support by the Banking Sector to the Palestinian Fund for Employment and Social Protection
Ramallah – Tuesday, December 26, 2017 – His Excellency Mr. Azzam Shawwa, the Governor of Palestine Monetary Authority, met today at the headquarters of Palestine Monetary Authority with His Excellency Mr. Mamon Abu Shahla, the Minister of Labor and President of the Palestinian Fund for Employment and Social Protection and delegates. Dr. Riyad Abu Shehadah, Governor’s Assistant for Financial Stability Affairsand Mr. Ali Far’oun, the Director of Market Conduct Department at Palestine Monetary Authority attended the meeting. Mr. Shawwa and Mr. Abu Shahla discussed ways of support by the banking sector to the Palestinian Fund for Employment and Social Protectionand mechanisms of granting banking facilities to the Fund.
Mr. Shawwa said Palestine Monetary Authority was ready to expend all efforts to support the roles of the Ministry of Labor and the Palestinian Fund for Employment and Social Protection in combating poverty and creating jobs and to urge the banking system to grant credit facilities to small and medium enterprises to ensure economic and social development and enhance employment opportunities in Palestine.
Mr. Shawwa praised the distinctive roles of the Ministry of Labor and the Palestinian Fund for Employment and Social Protection in combating unemployment and poverty in Palestine by intensifying national efforts to create job opportunities and support entrepreneurial businesses.
Mr. Abu Shahla praised the efforts of Palestine Monetary Authority in developing the banking sector and safeguarding its stability and soundness and supporting the Palestinian national economy. Mr. Abu Shahla said that by taking on social responsibility through facilitating soft loans for entrepreneurial projects, which would create jobs and reduce the impact of unemployment and poverty in the Palestinian society, the banking sector helped combating unemployment in Palestine.
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