Central Bank Governor urges Palestinian-led Gaza reconstruction
His Excellency the Governor of the Palestinian Monetary Authority, Yahya Shanar, affirmed that the reconstruction of Gaza must be led by Palestine, relying on the capabilities of the banking and private sectors to ensure resources are directed toward national priorities. He clarified that Palestinian banks are prepared to contribute to the reconstruction, thanks to their strong financial positions and capital adequacy ratio exceeding 17%, along with their commitment to international standards and ongoing credit provision during the crisis. He called for the expansion of international financing and the development of financial tools that meet the reconstruction needs, which are estimated to cost over $71 billion, to bolster the efforts of Palestinian institutions and support the economy, while ensuring the continuity of banking relations and enhancing financial flows.
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