13.2

The PMA started publishing its indicator for the business cycle (PMABCI) on a monthly basis since November 2012. 


 IBAN Instructions | What is IBAN?

The Board of Directors is the highest decision-making body of the PMA which oversees operations and adopts broad policy decisions including the conduct of monetary policy to achieve established goals, the adoption and dissemination of prudential regulations, the granting and revoking of licenses for banks, money changers and specialized lending institutions, and the restructuring of financial institutions. The Board is appointed by the President of the Palestinian Authority (PA) in accordance with the law. The term of the Board, including that of the Governor and Deputy Governor is set in line with general international best practice to be longer than that of the appointing authority, the President of the PA.

 

Governor

His Excellency Mr. Azzam Shawwa
Governor of Palestine Monetary Authority

HE Mr. Azzam Shawwa was appointed by President Mahmoud Abbas by a Presidential Decree on November 20, 2015 as the Governor and Chairman of the Board of Directors of the Palestine Monetary Authority. Governor Shawwa is the Chairman of the National Palestinian Anti Money Laundering Committee, he is also the chairman of the Palestine Deposit Insurance Corporation (PDIC), and the Banking institute. 

He maintained the stability of the Palestinian banking system and the development of regulations and legislation to ensure its soundness and safety. He enhanced the Palestine Monetary Authority's position and readiness for the transition to Palestine Central Bank through the completion of the final version of the Palestine Central Bank law. 

On 29 April 2018, the Union of Arab Banks awarded him with the "Golden Union Medal of achievement", to be the first Governor of the Monetary Authority to receive the award in recognition of his efforts in support of the Palestinian banking sector despite all the challenges surrounding it.


Mr. Shawwa is a prominent, accomplished Palestinian banker and public sector figure. In 2003, he was appointed as Minister of Energy in the Palestinian National Authority, where he spent over three years of active, outstanding public service. 

Mr. Shawwa's banker career was marked by a number of pioneering, audacious initiatives and reforms. In 1989, he joined the Bank of Palestine as its Foreign Relations Manager; and as such, he successfully expanded the bank’s presence, role and network in Palestine and beyond. In 1994, Mr. Shawwa assumed the position of the Regional Head of the Gazan Branches of the Arab Bank (Palestine), the largest banking group in Palestine.

In 2007, Mr. Shawwa's banking career achieved a new high as he took over as General Manager of the Palestinian Al-Quds Bank. There, Mr. Shawwa effected a fresh start for the bank, involving embarking on a wide-ranging restructuring of its most critical departments; launching of several new or enhanced products, and services; and substantially boosting the Bank's role and overall business image. 

Throughout 2012, Mr. Shawwa chaired the Association of Banks in Palestine, which he substantially invigorated and enabled to render enhanced services to its members and the Palestinian banking community at large. 

In March, 2013 Mr. Shawwa joined the Palestine Commercial Bank, and succeeded to substantially expand its geographical reach, market share and customer base. In 2014, he took the crucial step of raising the Bank’s capital and market share by issuing convertible bonds, an innovative, unprecedented measure (within the Palestinian banking sector), which strengthened the bank’s finances and significantly contributed to the deepening of the local capital market. 

Since its inception in 2002, Mr. Shawwa has been a distinguished, active member of the Board of Directors of the Palestine Investment Fund (PIF), Palestine's sovereign wealth fund and government’s investment arm. 

 
Mr. Azzam Shawwa was born in Kuwait in 1963, and later on in the year, he relocated along with his family to Gaza city, Palestine. In 1988, he graduated from Lemoyne-Owen College in Memphis, Tennessee, where he received his Bachelors of Science in Mathematics. Mr. Shawwa is married to Amal Bseiso, and together they have two sons and one daughter (Tamer, Nadim and Aida).

Board of Directors

Previous Governors