The Palestine Monetary Authority Governor met Italy’s Consul General in Jerusalem to discuss ways to support financial stability in Palestine, outlining the PMA’s measures to maintain banking sector stability amid the ongoing ILS accumulation crisis affecting Palestinian banks. The PMA linked the ILS buildup to limits imposed by Israel on currency transfers and the risk of banking relations being severed with Israeli correspondent banks, warning that the situation constrains banks’ ability to meet the needs of citizens and economic sectors, including commercial supply chains for essential goods. The Governor called for international efforts to help remove the restrictions and highlighted parallel work to develop digital infrastructure and expand electronic payment systems to facilitate transactions. Italy affirmed its commitment to supporting financial and economic stability in Palestine and signalled readiness for cooperation and exchange of expertise to strengthen financial and banking operations.

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