The Monetary Authority and the Federation of Chambers of Commerce Discuss Economic Developments and Mechanisms to Support the Private Sector

SadaNews Economy - The Monetary Authority and the Federation of Chambers of Commerce examined the latest economic developments and challenges facing the financial and commercial sectors under the current circumstances, as well as ways to address the impacts of these challenges on economic and commercial activity. 

This came during a meeting at the headquarters of the Monetary Authority, chaired by the Governor of the Monetary Authority, Yahya Shanar, and attended by the President of the Federation of Chambers of Commerce, Abdou Idris, alongside members of the federation, the Deputy Minister of Finance, Majdi Al-Hassan, the Deputy Governor of the Monetary Authority, Mohamed Manasra, and several directors from the Monetary Authority.

The meeting discussed a number of economic issues, most notably the crisis of the shekel accumulation, the crisis of cash deposits in banks, and the resulting direct effects on the ability of traders and institutions to conduct their financial transactions smoothly. 

Procedures and solutions that the Monetary Authority is working on to alleviate the severity of these crises and ensure the continuity of banking services for citizens and the commercial sector were also reviewed.

Governor Shanar emphasized that the Monetary Authority gives great attention to the private sector and traders, and seeks to address the obstacles they face through practical solutions, aimed at enhancing the role of the private sector as a key partner in economic development, enabling it to fully benefit from banking services, thus contributing to maintaining financial stability under the current circumstances.

For his part, the President of the Federation of Chambers of Commerce stressed the important role played by the banking sector in supporting the national economy, enabling companies and traders to continue their daily activities and grow despite the current challenges, praising the role of the Monetary Authority and its commitment to addressing the needs of the private sector, and its continuous communication with sector representatives, as this is important in addressing challenges and enhancing trust in the banking sector.