June 25, 2019 - His Excellency Mr. Azzam Shawwa, the Governor of Palestine Monetary Authority, met today at the headquarters of Palestine Monetary Authority in Ramallah with Swedish Consul General Jessica Olausson.
Mr. Shawwa addressed during the meeting the latest developments in the Palestinian banking sector, and the efforts of Palestine Monetary Authority in developing and enhancing the stability of such sector and to be up-to-date with the latest international banking developments.
Mr. Shawwa affirmed the depth of the bilateral relations between Palestine and Sweden. Mr. Shawwa also referred to the memorandum of understanding signed by Palestine Monetary Authority and Sveriges Riksbank (Central Bank of Sweden), which allows for technical assistants in several banking areas, especially electronic payment methods. Mr. Shawwa stressed the necessity of enhancing the joint relationship between Palestine Monetary Authority and Sveriges Riksbank and exchange of banking expertise and experiences.
The meeting also addressed the current Palestinian financial and economic situation and the challenges it faced. Mr. Shawwa said that despite these challenges the Palestinian banking system was sound and stable.
Jessica Olaussonpraised the development of the Palestinian banking sector and its stability and praised the efforts of Palestine Monetary Authority to ensure such stability and said that Sweden was ready to develop continuous and mutual cooperation in different areas including finance and banking.