Palestinian central bank approves opening of offices in different regions

The Palestinian central bank approved the opening of 21 monetary offices in different Palestinian villages and towns, reports Kuwaiti news agency (KUNA) quoting a bank statement.

KUNA says the decision is part of a plan to extend banking services to Palestinians to help them resist the Israeli aggression. The statement said Amin Haddad, deputy governor of the central bank issued missions to nine banks to open monetary offices outside the city centers. The central bank also approved to turn the Palestinian development fund into a banking institution called "the Palestinian Banking Corporation."

The development fund was established in 1996 after the merger of three institutions. It has ever since granted loans in different economic sectors.