Union of Arab Banks, CBJ open conference on Palestinian economy

By JT - Mar 21,2018 - Last updated at Mar 21,2018

AMMAN — Governor of the Central Bank of Jordan (CBJ) Ziad Fariz on Wednesday said that the political and security instability prevailing in some Arab states is adding to the difficulties of the already-troubled Palestinian economy.

Opening a conference on the Palestinian banking sector, organised by the Union of Arab Banks in cooperation with CBJ and the Palestinian Monetary Authority, Fariz added that such state of instability is weakening Arab states’ abilities to achieve sustainable economic growth and create job opportunities, the Jordan News Agency, Petra, reported.

Regarding the status of the pan-Arab banking sector, he noted that credit facilities granted by banks grew by 6.2 per cent to $2.1 trillion, constituting 87.5 per cent of the total Arab gross domestic product.

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