Governor of the Monetary Authority Briefs Belgian and Swedish Consuls on Latest Developments in the Palestinian Banking Sector

SadaNews Economy - Today, the Governor of the Monetary Authority, Yahya Shanar, met with the Consul General of Belgium in Jerusalem, Anik Van Claesster, and the Consul General of the Kingdom of Sweden in Jerusalem, Sophie Bekir, in the presence of Deputy Governor Mohammad Mnasra and several department directors at the Monetary Authority.

During the meeting, the governor briefed the consuls on the reality of the Palestinian banking sector in light of the current financial and economic conditions, as well as the efforts of the Monetary Authority to maintain the stability of the banking system and enhance its ability to face various challenges, particularly the accumulation of shekels and the banking correspondent relationship with the Israeli side, which imposes pressures on financial stability and the continuity of banking operations.

Shanar also pointed to the efforts of the Monetary Authority to ensure the continuity of banking services in the Gaza Strip after the war, contributing to alleviating the humanitarian crises faced by citizens in the sector.

The governor touched upon the key efforts of the Monetary Authority in promoting digital transformation in the financial and banking sector, by developing the infrastructure for digital payments and expanding the range of modern financial services, which contributes to enhancing the efficiency of banking operations and achieving financial inclusion.

Shanar emphasized the importance of the role of international partners and the European Union in supporting Palestinian financial stability, and mitigating the effects of the economic crisis caused by the war by contributing to the launch of a fund to assist borrowers in the Gaza Strip, maintaining the correspondent banking relationship, and helping in the transfer of surplus shekels, confirming that the stability of the banking sector constitutes a fundamental pillar for enhancing the role of the Palestinian economy in facing the current exceptional challenges.

For their part, the consuls expressed their appreciation for the role of the Monetary Authority in maintaining financial stability, affirming their countries' continuous commitment to support Palestinian institutions and their readiness to enhance cooperation in areas of mutual interest, contributing to supporting the Palestinian economy and achieving sustainable development.