The Governor of the Central Bank Meets the French Consul General to Discuss Developments in the Financial and Banking Sector

SadaNews - The Governor of the Central Bank, Mr. Yahya Shnaar, met with the French Consul General, Mr. Nicolas Kasanidas, accompanied by a delegation that included the political advisor to the consulate, Mr. Theo Spirotheis, and Ms. Nora Trich from the PROPARCO institution, part of the French Development Agency Group, with the attendance of Deputy Governor Mr. Muhammad Manasra and a number of directors from the Central Bank.

During the meeting, the governor briefed the French consul on the overall economic and financial conditions, focusing on the latest developments in the Palestinian banking sector, the current challenges related to liquidity crisis and the accumulation of shekels, in addition to the correspondent banking relationship between Palestinian and Israeli banks, its importance, and the risks associated with its interruption. He also reviewed the Central Bank's efforts to maintain financial stability and ensure the continuity of the banking system's operations under exceptional circumstances.

The governor emphasized the importance of international partnerships in supporting the efforts of the Central Bank, appreciating the French side's interest and keen desire to closely observe the reality of the banking sector and the challenges it faces.

For his part, the French Consul General, Mr. Nicolas Kasanidas, expressed his appreciation for the efforts exerted by the Central Bank to maintain stability in the Palestinian financial and banking sector, confirming France's ongoing support for the financial sector and its vital role in strengthening economic resilience, and praised the level of professionalism with which the Central Bank operates, stressing the importance of continued cooperation and enhancing the partnership with the Palestinian side to support stability and sustainable development.

The two sides also discussed the specific conditions in the Gaza Strip, the functioning of the banking system under the current circumstances, its role in supporting relief and humanitarian operations, contributing to the recovery of economic activity, and providing basic financial services to citizens and institutions in the sector.

The meeting also touched on prospects for enhancing joint cooperation and exploring areas of potential support with the French side and PROPARCO, to contribute to strengthening sustainable development.