Governor of the PMA Azzam Shawwa met at PMA headquarters today with the Representative of Canada to the State of Palestine Douglas Scott Proudfoot.
Governor of PMA briefed the Representative of Canada on the efforts made by the PMA to upgrade the operation and sustain the robustness of the Palestinian banking sector as well as achieve financial stability. He added that these efforts are made possible through the implementation of international banking standards and keeping abreast with the most recent banking developments. He also briefed his guest on PMA future plans and its vision to transform into a central bank in the near future, once the Palestine Central Bank Law receives presidential endorsement.
Governor Shawwa praised the bilateral relations between Canada and Palestine and expressed his high regard for the Canadian government’s developmental initiatives and projects which have a positive economic impact.
From his side, the representative of Canada commended the performance and progress made by the PMA and the Palestinian banking sector, affirming the readiness of his country to consolidate mutual cooperation between the two sides in a manner that achieves financial and economic development in Palestine. This can be particularly realized, he added, through Canada’s programs operating in the areas of private sector development, SMEs and food and agriculture and food security programs.