23 Hrs
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شبكة فلسطين الإخبارية
Palestine Authority initiates 4.5B shekel shipment
The Palestinian Monetary Authority has announced the start of the fourth shipment of accumulated shekel surplus, amounting to 4.5 billion shekels, following Israeli approval to expedite the implementation. The move aims to alleviate the shekel surplus crisis faced by the Palestinian banking sector, as transferring funds to the Israeli Central Bank will help enhance liquidity and support the balances of Palestinian banks. This will contribute to the stability of the financial market and enable banks to better serve their customers amid challenging economic conditions. This step is considered a temporary solution to the crisis, with calls to develop sustainable mechanisms to reduce excessive reliance on the shekel and encourage electronic payment methods.
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