Gaza:Palestine Monetary Authority Governor Yahya Shunnar expressed concerns today about the persistent risks to the Palestinian economy, as its correspondent banking relations remain reliant on temporary decisions.
According to Palestine News and Information Agency – WAFA, Shunnar discussed these issues during a meeting with Ambassador Andreas Fiedler, the new European Union Representative to the State of Palestine, along with his delegation. The meeting was attended by PMA Deputy Governor Mohammad Manasra and several department directors.
Shunnar noted that although the Israeli central bank governor has agreed to extend correspondent banking relations until December 31, 2026, this extension does not offer a permanent resolution to the financial and banking dynamics between Palestine and Israel. He urged the European Union to actively engage in resolving this matter and apply pressure to maintain banking relations with Israeli banks. These relations are crucial for sustaining trade, supply chains, and essential services for citizens.
He called on the European Union and the international community to leverage their influence with the Israeli side and relevant banks to ensure the continuation of these banking relations. Shunnar emphasized the significance of moving towards a sustainable solution, considering the international operations and investments of these banks.
Furthermore, Shunnar underscored the Palestinian banking sector's commitment to adhering to international standards in combating money laundering and terrorist financing, while also advancing its supervisory systems and practices.