Translated by Sabrin Qadah  

Governor of the Palestinian Monetary Authority, Azzam al-Shawwa, has discussed with the Governor of the Bank of the United Arab Emirates, Mubarak Al Mansouri, ways to strengthen the bilateral relationship between the two countries, and reinforce cooperation in the areas of financial oversight and inclusion, and the fight against money laundry in addition to payment systems.

The meeting, which was held in Abu Dhabi on Tuesday, aims to support the development of the banking and financial work between the two countries in line with the recommendations of the Basel Committee for Financial Supervision.

In his turn, Al Mansouri praised the work of the Monetary Authority in maintaining the stability of the banking sector in light of the difficult situation in Palestine.

In the same context, al-Shawa met with Chairman and General Manager of the Arab Monetary Fund Abdul Rahman Al Hamidi. The latter thankede al-Shawa for the PMA’s active participation in the Arab Monetary Fund Committees, stressing on the progress in the development of Arab Settlement System and Payment, which will enhance the inter-Arab trade and settlement of payments related thereto.

Al Hamidi showed the Fund's readiness to cooperate with the Monetary Authority of its development projects in order to serve its vision in the development of the Palestinian economy and the stability of the banking systemed.

During his stay in Abu Dhabi, Shawa and his accompanying delegation met the Palestinian ambassador to the United Arab Emirates Essam Masalha, where he was briefed on the achievements and latest developments in the Palestinian banking system, while His Excellency the Governor was also briefed on the situation of the Palestinian community in the United Arab Emirates.