June 17, 2020 - His Excellency the Governor of Palestine Monetary Authority, Mr. Azzam Shawwa, met today at the Headquarters of Palestine Monetary Authority in Ramallah and Al-Bireh Governorate, a delegation from the Palestinian Businessmen Associations led by the President of the Association Mr. Osama Amr, in the presence of the executive directors of Palestine Monetary Authority.
His Excellency the Governor reviewed the latest developments related to the measures of Palestine Monetary Authority and the banking system to face the effects of the current crises, notably the coronavirus, and its repercussions on the national economy, pointing out that the instructions and procedures issued by Palestine Monetary Authority during the current health crisis for banks and lending institutions, contributed to mitigating the repercussions of the crisis on the various economic sectors.
Mr. Shawwa also touched on the importance of the “Sustainability” Program, which was launched by Palestine Monetary Authority last month with a volume of $300 million for providing financing to small, medium, and microenterprises that have been economically affected by the coronavirus pandemic, and is currently being implemented through banks and specialized lending institutions.
The meeting discussed the businessmen relationship with banks and the most important problems they face, and ways to overcome them, including the mechanism for dealing with returned cheques due to insufficient balance.
The meeting stressed the importance of concerted efforts between the public and private sectors to enhance the capacity of businessmen, traders and various economic sectors under the current circumstances.