For the first time in its history, the International Chamber of Commerce- Palestine participated in the ICC Banking Commission meeting in Qatar on the 27th and 28th of March, entitled "Reframing the Future of Trade Finance." The Palestinian delegation was led by Dr. Jehad Alwazir, in addition to a number of Palestinian Banks' representatives, among them Mr. Hashim Shawwa Chairman and General Manager of Bank of Palestine.
Alwazir also participated in the G-20 meeting organize by the ICC, where he noted importance of the achievements accomplished in the Palestinian banking sector and the Palestine Monetary Fund, and also noted that the total volume of LC's reached about USD150 million in 2011, which is a major achievement within the Palestinian market and the general economic situation. Alwazir also discussed the latest developments in the Palestinian banking system, which led to a very notable growth over the last few years.
The International Chamber of Commerce was founded in 1919 to serve world business by promoting trade and investment, open markets for goods and services, and the free flow of capital. The organization's international secretariat was established in Paris and the ICC's International Court of Arbitration was created in 1923. The ICC plays a major role in representing the private sector in important international meetings, such as the WTO and the G-20 summits. Palestine joined the ICC in December of 2011 with full membership, marking a national accomplishment for the country.
The ICC Banking Commission was established 80 years ago, and it has more than 500 members from international banks in more than 130 countries around the world. The ICC Banking Commission- Palestine was created in 2012 and it aims at activating Palestine's role in international summits and in drawing plans for the future of banking.