News Column

Palestine to have its national currency, own central bank

August 18, 2014

ALGIERS- Palestinian Authority will have its own currency and a central bank as soon as the hindrances to those projects are removed, the governor of the Palestinian monetary authority, Jihad El Wazir, said Sunday in Algiers.

During a conference organized by the Bank of Algeria on his country's experience in the development of central liability offices, El Wazir said that the main obstacles to reach those goals are the ongoing Israeli colonization and the absence of a Palestinian state.

For the time being, the currencies used in the Palestinian territories are the US dollar, the Jordanian dinar and the Israeli Shekel, the speaker told many executives representing Algerian banks and the governor of the Bank of Algeria, Mohamed Laksasci, taking part in the conference.

In spite of Gaza blockade and Israeli occupation, USD8.5 billion have been transferred to the Gaza Strip since 2007, he disclosed.

El Wazir thanked the Algerian government for having supported its Palestinian counterpart through a donation of several millions of dollars, thus strengthening the capacities of the Palestinian Treasury Department.


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Source: Algeria Press Service

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