Central Bank Governor: Gaza rebuilding led by Palestinians
The Governor of the Palestinian Monetary Authority, Yahya Shanar, confirmed that the reconstruction of the Gaza Strip should be led by Palestinian institutions in cooperation with the banking and private sectors, while maintaining financial unity between the West Bank and Gaza Strip. He explained that the cost is estimated at over $71 billion, and that Palestinian banks, which have a capital adequacy ratio exceeding 17% and comply with anti-money laundering and terrorism financing standards, are ready to contribute to recovery and reconstruction efforts. He called for expanding international funding and developing financial tools, along with enhancing the role of the World Bank Group in leading national efforts, in order to meet needs and achieve sustainable development in the sector.
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