Gaza - His Excellency the Governor of the Palestinian Monetary Authority Mr. Azzam Shawwa met today and yesterday, while heading a delegation of Palestine Monetary Authority, a number of financial, banking and economic figures and institutions in Gaza Strip, during his visit and the accompanying delegation to the Gaza Strip, during which he discussed the most prominent issues related to the banking sector and the economic situation. His Excellency the Governor met with a delegation from the Board of Directors of the Chamber of Commerce and Industry of the Governorate of Gaza, headed by Mr. Walid Al-Husari, where he discussed the economic conditions in Gaza Strip and highlighted the challenges and obstacles facing the trade and industry sector as a result of the blockade on Gaza Strip. The mechanisms for providing more banking facilities to the merchant sector were addressed.
His Excellency the Governor, Mr. Azzam Shawwa, met with the Board of Directors of the Contractors Union headed by Mr. Osama Kahil, and heard from them a detailed explanation about their problems and the situation of the contracting sector, which has been severely affected in recent years.
H.E. the Governor opened a workshop at the headquarters of the Contractors Union on electronic clearing attended by several members of the Union, in which Mr. Riad Awad, Director of the Payments Systems Department at Palestine Monetary Authority, spoke, where his Excellency the Governor pointed out that the electronic clearing project comes within the framework of the ongoing efforts of Palestine Monetary Authority to develop the infrastructure of the banking system, through the development of many systems, programs and banking services, and the transition to a sophisticated electronic work environment in order to keep up with the latest global banking developments in the field of payment and settlement systems.
His Excellency the Governor of Palestine Monetary Authority, Mr. Azzam Shawwa, also opened a training program for money changers at the Banking Institute in his capacity as Chairman of the Board of Directors in the presence of the Director General of the Institute, Dr. Iyad Al-Jayousi, on informing the money changers about the requirements of anti-money laundering and terrorism financing and the most important results of the national evaluation process for the risks of the crimes of money laundering and terrorism financing.
His Excellency the Governor also met at the Headquarters of Palestine Monetary Authority with the President of the Businessmen's Association, Mr. Ali Hayek, Vice President of the Association, Mr. Nabil Abu Maalik, and a number of members of the Association, who briefed Mr. Shawwa about the most prominent problems and difficulties faced by businessmen in their relationship with the banking system. Mr. Shawwa stressed the interest of Palestine Monetary Authority and the banking system in developing and promoting the economic sector and supporting private sector initiatives.
During his meetings with the private sector, Mr. Shawwa pointed out the measures taken by Palestine Monetary Authority to mitigate the effects of the decline in the economic situation in Gaza Strip, including granting clients classified on the system of returned cheques to the Gaza Strip exceptional approvals to modify the classification, especially the category of businessmen and traders, contractors and owners of SMEs.
His Excellency the Governor explained that among the measures taken by Palestine Monetary Authority include, stopping collecting the commission of cheques returned on the accounts of public sector employees during the period of salary delays, stop classifying clients on the system of returned checks, allow rescheduling and installment of existing facilities, and determining the discount rate of salary not to exceed 50% of the transfer payment or installment whichever is lower.
Mr. Shawwa said that these measures led banks not to file court claims to collect their debts, allowing public sector employees to make greater use of such procedures.
His Excellency the Governor addressed the efforts of Palestine Monetary Authority and the banking system in achieving monetary stability and contributing to maintaining financial stability despite the political situation and the financial crisis that the Palestinian government is going through.
His Excellency Mr. Azzam Shawwa held a meeting with representatives of banks, and a second meeting with representatives of lending institutions, and a third meeting with a number of representatives of currency exchange companies and briefed them on the outstanding position of the Palestinian banking system at the regional and international level despite the major financial and economic difficulties that Palestine was going through.
During his visit to Gaza Strip, His Excellency the Governor, Mr. Azzam Shawwa, sponsored a celebration of the Future Palestine Avenir for Childhood Foundation in his capacity as Chairman of the Board of Directors of the Foundation, in which the Governor of Gaza, Mr. Ibrahim Abu al-Naja, representing Mr. President and a number of institutions and legal figures, participated on the occasion of its rehabilitation after the great destruction that it had endured, and honored the donors and contributors who contributed to delivering the necessary support.
His Excellency the Governor of Palestine Monetary Authority also visited sports clubs and social institutions.