FINANCIAL INTEGRITY UNVEILED: THE INTERPLAY OF ACCOUNTING CONSERVATISM AND GOVERNANCE MANUAL REVISIONS IN PALESTINIAN BANKS

Authors: Nadia Ahmed Khalil, Omar Mahmoud Al-Hindi

Published: March 2024

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Abstract

<p>The Palestinian banking system, anchored by 15 operational banks, holds a pivotal position within the financial landscape, with six locally-listed national banks playing a significant role in the Palestinian stock market. This esteemed group comprises Bank of Palestine, Al-Quds Bank, the National Bank, the Palestinian Investment Bank, the Arab Islamic Bank, and the Palestinian Islamic Bank. Governed by the regulatory oversight of the Palestinian Monetary Authority (PMA), these banks operate within a framework delineated by well-defined banking policies. The PMA, as a key regulatory entity, not only ensures compliance but also actively engages in fostering deposit growth and steering investments towards judicious and studied ventures (Palestine Monetary Authority, 2014).This abstract aims to provide an overview of the prominence and regulatory framework of the Palestinian banking sector, elucidating its structural components and the role played by key national banks. The identified banks, as integral players in the Palestinian stock market, contribute significantly to the economic development of the region. The regulatory guidance provided by the Palestinian Monetary Authority underscores its commitment to maintaining the stability and integrity of the banking sector while simultaneously fostering growth and prudent financial management. The Palestinian banking system's diverse landscape encompasses various financial institutions, each contributing uniquely to the economic fabric. The six national banks, with their presence in the stock market, serve as critical intermediaries in channeling funds and shaping investment landscapes. The regulatory efforts of the Palestinian Monetary Authority manifest in the formulation of sound banking policies and the facilitation of responsible investment practices, thus ensuring the resilience and sustainability of the banking sector. In conclusion, this abstract provides a snapshot of the Palestinian banking sector, emphasizing the roles of key national banks and the regulatory prowess of the Palestinian Monetary Authority. It highlights the collaborative efforts in maintaining a robust financial environment conducive to growth and stability in Palestine</p>

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