Palestinian savings abroad worth $30 billion

The director of the International Bank of Palestine, Essam Abdel Salam Abu Eissa, estimated the volume of Palestinian savings abroad at more than $30 billion. He stated that improvements in the situation in the self rule areas will serve to attract those huge sums of money back to Palestine.

Abu Eissa stated that the banking sector in the Palestinian territories includes about 19 banks. The savings in those banks reached $2 billion by the end of last October.

Abu Eissa ruled out the possibility that the Palestinian pound will be issued at the present time as the current circumstances are not favorable for such an action, and that it will be issued when the Palestinian economy is stable and assumes a clear shape.