Ongoing tensions with Israel and a stagnating economy paint a bleak picture of Palestine’s economic situation, but its banking sector continues to mature and develop, raising hopes that it is ready to play a larger role in the economy.
According to the Palestine Monetary Authority (PMA), the country's banking sector has been growing steadily in recent years, with total assets up 11.6% in 2017 to reach $15.8bn, deposits up 13% to $12bn, and bank profits hitting $170.5m at the end of 2017, rising 15.2% year on year.
