Palestinian banks ready to tackle any Y2K problem

Foad Bessiso, the governor of the Palestinian currency authority, said the Palestinian banking sector is ready to deal with any Y2K problem, adding that the authority formed an emergency committee that includes representatives of the banks working in Palestine to follow up on this matter around the clock.

This came in the meeting of Palestine's institute for financial and banking studies in Ramallah in which the general and regional managers of the banks, representatives of the Palestinian ministries and experts from the US Agency for International Development (USAID) participated to discuss the banks' readiness to confronting the Y2K computer problem.

Bassiso also said USAID sent an expert at the request of the currency authority to evaluate the situation in the bank to make sure of its seriousness.