ISTANBUL, June 6, 2026 (WAFA) – Governor of the Palestine Monetary Authority Yahya Shanar and Governor of the Central Bank of the Republic of Turkey Fatih Karahan discussed on Saturday ways to enhance financial and banking cooperation between Palestine and Türkiye, along with several priority issues for the Palestinian banking sector, on the sidelines of the AlBaraka Islamic Economics Summit in Istanbul.
Shanar stressed the importance of Palestinian–Turkish relations in supporting economic and financial cooperation, noting the need to continue developing them in a way that serves the financial and trade sectors and contributes to strengthening the stability of the Palestinian economy.
He briefed his Turkish counterpart on the key challenges facing the Palestinian banking sector, primarily the accumulation of the shekel, the continued Israeli restrictions on clearance revenues, and the challenges related to correspondent banking relations between Palestinian and Israeli banks, which have direct repercussions on the performance of the banking sector, trade movement, and the continuity of banking services, calling for serious international action to address these challenges and ensure the stability of the Palestinian financial sector.
The two sides discussed ways to enhance cooperation between financial and banking institutions in both countries, emphasizing the importance of Palestinian–Turkish trade relations and their role in supporting economic activity, as well as the need to develop the financial and banking sector to facilitate trade and investment flows and improve banking services linked to commercial exchange.
For his part, the Governor of the Central Bank of Türkiye expressed interest in the issues raised, stressing the importance of continued institutional dialogue and the development of cooperation frameworks to enhance financial integration and support stability in economically challenged environments.
In a separate meeting, Shanar discussed with the Governor of the Central Bank of Malaysia, Abdul Rasheed Ghaffour, prospects for developing the institutional framework of Islamic finance and expanding its tools in supporting the real economy, in addition to cooperation in financial innovation, digital payment systems, and strengthening the efficiency of financial infrastructure.
The two sides also reviewed Malaysia’s experience in Islamic finance as an advanced model linking financial stability with inclusive growth, and explored the possibility of benefiting from best practices in regulation, governance, and financial product development.
T.R.
