BANGKOK, October 16, 2026 (WAFA) – Governor of the Palestine Monetary Authority (PMA), Yahya Shunnar, stressed the need for Gaza reconstruction to be led by Palestinian institutions, drawing on the capabilities of the banking and private sectors to support recovery efforts and implement reconstruction projects.

He also emphasized the importance of maintaining the unity of the banking sector and financial connectivity between the West Bank and the Gaza Strip, ensuring that resources are directed toward Palestinian national priorities and needs.

Shunnar made the remarks during a meeting of Arab governors with the President of the World Bank Group, Ajay Banga, which addressed the main economic and financial challenges facing Palestine, the needs for recovery and reconstruction in the Gaza Strip, and the World Bank Group’s role in providing the necessary financing.

Shunnar affirmed that Palestinian banks are ready to contribute to reconstruction, citing their sound financial positions, with a capital adequacy ratio exceeding 17%. He also highlighted the banking sector’s compliance with international standards on anti-money laundering and combating the financing of terrorism, the continuation of credit provision during the crisis, and the PMA’s success in fully automating payments in the Gaza Strip and shifting them to digital channels.

The PMA governor stressed that strengthening banks’ capacity to support reconstruction requires ensuring the continuity of correspondent banking relationships and addressing restrictions on the return of excess cash liquidity, allowing the necessary financing to flow and supporting economic activity.

He called for expanding international financing and developing instruments to meet the growing needs for recovery and reconstruction in the Gaza Strip, which are estimated to cost more than $71 billion, according to the World Bank and international institutions.

He stressed the importance of strengthening the World Bank Group’s role in leading international efforts to reconstruct Gaza through its plan, ensuring that the plan aligns with Palestinian national priorities, that Palestinian institutions lead implementation efforts, and that economic and financial connectivity between the West Bank and the Gaza Strip is maintained.

Shunnar welcomed the World Bank Group’s support for Palestine through the Trust Fund for Gaza and the West Bank and the Palestinian Fund for Reconstruction and Development (PFRD).

He called for greater use of these mechanisms and the instruments of the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), including guarantees, risk-sharing and trade finance, to facilitate financing through Palestinian banks and enable the private sector to contribute to reconstruction projects.

T.R.