«May 2017»

EBRD to invest in West Bank and Gaza

The EBRD Board of Governors has approved the engagement of the EBRD in the West Bank and Gaza for an initial period of five years to support the development of the economy with investments through a trust fund.
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MoU signed between the Palestine Monetary Authority, GIZ and Sanad Fund

With the aim of strengthening consumer protection and financial literacy in Palestine, the Palestine Monetary Authority (PMA), GIZ and the SANAD Fund for MSME’s Technical Assistance Facility agreed on a joint project supporting the PMA’s consumer relations halls today
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PMA Supervises Implementation of Optional Merger Agreement between Bank of Palestine and Palestine Commercial Bank

The Governor of the PMA, H.E. Azzam Shawwa, announced that the PMA has approved and overseen the transfer of all owners’ rights and obligations of the Palestine Commercial Bank (PCB) to the Bank of Palestine (BOP), following the merger agreement between the two parties. The merger was effectuated through the acquisition and transfer of the bank portfolio and all assets and liabilities of PCB by BOP. In that respect, the PMA has reassured depositors and customers that their deposits and rights are protected. Consequently, PCB branches become BOP branches as of Sunday morning, September 18, 2016. 
This merger comes in line with PMA policy to enhance capital adequacy and robustness of the Palestinian banking system and foster its abilities to withstand shocks and risks surrounding the banking business environment. The aim of this policy is to protect customer funds and the rights of bank customers in general in a manner that contributes to achieving financial stability. 

Categories: PMA, Announcements