The Governor of the Monetary Authority discusses with a World Bank delegation ways to enhance cooperation in financial stability areas

SadaNews Economy - The Governor of the Monetary Authority, Yahya Shanar, met with a delegation from the World Bank that included Mr. Stefan Emblad, the director and resident representative of the World Bank in Palestine, and Irina Astrakhan, director of the Global Practices for Finance and Markets at the World Bank, in the presence of Deputy Governor Muhammad Manasra and several technical teams from both sides.

The two sides discussed ways to strengthen their joint cooperation in the areas of financial stability and the development of the Palestinian banking system, as well as supporting the Monetary Authority's efforts to increase the efficiency of the financial sector and enhance financial inclusion.

During the meeting, the governor reviewed the latest developments in the Palestinian banking sector and the challenges it faces in light of threats from Israeli correspondent banks to sever banking relations, in addition to the impact of the accumulation of the shekel on the banking and economic sectors.

The role of the banking sector in supporting reconstruction efforts in Gaza was also addressed, where the governor emphasized the importance of intensifying international efforts in the field of relief and hastening the start of reconstruction procedures, enabling the Palestinian private sector to contribute to the reconstruction process.

For its part, the World Bank delegation praised the efforts of the Monetary Authority in maintaining the stability of the banking system despite the existing challenges, confirming the World Bank's ongoing support for the Monetary Authority and the joint cooperation in development programs and future projects.