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Palestine Monetary Authority reveals merging procedures that target 6 banks

2010-09-27

Riad Shihadeh the Director of Surveillance and Inspection at Palestine Monetary Authority revealed targeted procedures to liquidate and merge 6 banks into 3. He pointed out in his conversation to “WAFA” that the resolution of banks merges to be implemented during this year and in the early of next year, and this was due to banks failure to meet the monetary authority’s conditions of raising their capital to $50 million.