Bank chairman says Palestine must triple efforts to protect economy, ideals, resilience

The Chairman of the Bank of Palestine Hashim Shawa speaks at the World Economic Forum in Davos on Thursday. (WEF)
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Updated 20 January 2023
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Bank chairman says Palestine must triple efforts to protect economy, ideals, resilience

  • Shawa told the forum he was proud to say that the bank is the first to be gender-balanced at board level in the Middle East and North Africa region

LONDON: Efforts to protect the Palestinian economy, ideals, and resilience must be tripled as fears rise that the two-state solution to the conflict with Israel is becoming increasingly unlikely, the Chairman of the Bank of Palestine Hashim Shawa said on Thursday.

Speaking at a session called “For the Sake of Peace: Jumpstarting the Palestinian Economy” at the World Economic Forum in Davos, Shawa said both Israelis and Palestinians are worried that the two-state solution will not materialize in the current political climate.

Israel’s most right-wing government in history took power last month and the Palestinian prime minister accused it of blocking “even the most non-violent ways of fighting the occupation.”

Shawa said: “We’re all worried that we’re seeing almost the end of a two-state solution. And we saw with the recent elections in Israel what’s going on, and I don’t know where things are going. 

“Everyone’s waiting and seeing, but things don’t look good.

“So that’s why we must raise the alarm. However, not in a state of panic, but to double and triple our efforts to protect our ideals, our values of democracy, international law, [and to] protect the economy and our resilience.”

He said that for every $1 of aid that Palestine had received, there had been $2.50 to $3 of investment by the private sector.

He added: “Don’t forget, there are 5 million Palestinians on the ground that are still there day in, day out, taking their kids to school, educating their kids and investing their capital and their wealth into their businesses from the small to the big, and that is not going to end.

“That gives us hope and is something that the bank with its partners has been scaling up on all levels.”

Shawa added that he was proud to say that the bank is the first to be gender-balanced at board level in the Middle East and North Africa region.

“If more women are in policymaking, decision-making, impactful jobs, whether it’s in government or private sector, you can get transformational change,” he said.

The chairman added that structuring the bank in that way proves that you can do good, be gender-balanced, make lots of profit, succeed, and be more resilient “even under a terrible occupation that strips you from freedoms.”

He said: “Women suffer the worst from the occupation in terms of the issues that they face under any military conflict. They always suffer the worst.

“By including them in the economy, by giving them access to finance, empowering them, making them more involved in decision making, that gives you a balanced approach to running the business and solving problems.”


Israel strikes Sana'a airport - Haaretz newspaper reports, citing Israeli official

Updated 13 sec ago
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Israel strikes Sana'a airport - Haaretz newspaper reports, citing Israeli official


Syria authorities say torched 1 million captagon pills

Updated 26 min 16 sec ago
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Syria authorities say torched 1 million captagon pills

DAMASCUS: Syria’s new authorities torched a large stockpile of drugs on Wednesday, two security officials told AFP, including one million pills of captagon, whose industrial-scale production flourished under ousted president Bashar Assad.
Captagon is a banned amphetamine-like stimulant that became Syria’s largest export during the country’s more than 13-year civil war, effectively turning it into a narco state under Assad.
“We found a large quantity of captagon, around one million pills,” said a balaclava-wearing member of the security forces, who asked to be identified only by his first name, Osama, and whose khaki uniform bore a “public security” patch.
An AFP journalist saw forces pour fuel over and set fire to a cache of cannabis, the painkiller tramadol, and around 50 bags of pink and yellow captagon pills in a security compound formerly belonging to Assad’s forces in the capital’s Kafr Sousa district.
Captagon has flooded the black market across the region in recent years, with oil-rich Saudi Arabia a major destination.
“The security forces of the new government discovered a drug warehouse as they were inspecting the security quarter,” said another member of the security forces, who identified himself as Hamza.
Authorities destroyed the stocks of alcohol, cannabis, captagon and hashish in order to “protect Syrian society” and “cut off smuggling routes used by Assad family businesses,” he added.
Syria’s new Islamist rulers have yet to spell out their policy on alcohol, which has long been widely available in the country.

Since an Islamist-led rebel alliance toppled Assad on December 8 after a lightning offensive, Syria’s new authorities have said massive quantities of captagon have been found in former government sites around the country, including security branches.
AFP journalists in Syria have seen fighters from Islamist group Hayat Tahrir Al-Sham (HTS) set fire to what they said were stashes of captagon found at facilities once operated by Assad’s forces.
Security force member Hamza confirmed Wednesday that “this is not the first initiative of its kind — the security services, in a number of locations, have found other warehouses... and drug manufacturing sites and destroyed them in the appropriate manner.”
Maher Assad, a military commander and the brother of Bashar Assad, is widely accused of being the power behind the lucrative captagon trade.
Experts believe Syria’s former leader used the threat of drug-fueled unrest to put pressure on Arab governments.
A Saudi delegation met Syria’s new leader Ahmed Al-Sharaa in Damascus on Sunday, a source close to the government told AFP, to discuss the “Syria situation and captagon.”
Jordan in recent years has also cracked down on the smuggling of weapons and drugs including captagon along its 375-kilometer (230-mile) border with Syria.


Jordan says 18,000 Syrians returned home since Assad’s fall

Updated 48 min 40 sec ago
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Jordan says 18,000 Syrians returned home since Assad’s fall

AMMAN: About 18,000 Syrians have crossed into their country from Jordan since the government of Bashar Assad was toppled earlier this month, Jordanian authorities said on Thursday.
Interior Minister Mazen Al-Faraya told state TV channel Al-Mamlaka that “around 18,000 Syrians have returned to their country between the fall of the regime of Bashar Assad on December 8, 2024 until Thursday.”
He said the returnees included 2,300 refugees registered with the United Nations.
Amman says it has hosted about 1.3 million Syrians who fled their country since civil war broke out in 2011, with 650,000 formally registered with the United Nations.


Lebanon hopes for neighborly relations in first message to new Syria government

Updated 26 December 2024
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Lebanon hopes for neighborly relations in first message to new Syria government

  • Lebanon’s Iran-backed Hezbollah played a major part propping up Syria’s ousted President Bashar Assad through years of war
  • Syria’s new Islamist de-facto leader Ahmed Al-Sharaa is seeking to establish relations with Arab and Western leaders

DUBAI: Lebanon said on Thursday it was looking forward to having the best neighborly relations with Syria, in its first official message to the new administration in Damascus.
Lebanese Foreign Minister Abdallah Bou Habib passed the message to his Syrian counterpart, Asaad Hassan Al-Shibani, in a phone call, the Lebanese Foreign Ministry said on X.
Lebanon’s Iran-backed Hezbollah played a major part propping up Syria’s ousted President Bashar Assad through years of war, before bringing its fighters back to Lebanon over the last year to fight in a bruising war with Israel – a redeployment which weakened Syrian government lines.
Under Assad, Hezbollah used Syria to bring in weapons and other military equipment from Iran, through Iraq and Syria and into Lebanon. But on Dec. 6, anti-Assad fighters seized the border with Iraq and cut off that route, and two days later, Islamist militants captured the capital Damascus.
Syria’s new Islamist de-facto leader Ahmed Al-Sharaa is seeking to establish relations with Arab and Western leaders after toppling Assad.


Iraqi intelligence chief discusses border security with new Syrian administration

Updated 26 December 2024
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Iraqi intelligence chief discusses border security with new Syrian administration

BAGHDAD: An Iraqi delegation met with Syria’s new rulers in Damascus on Thursday, an Iraqi government spokesman said, the latest diplomatic outreach more than two weeks after the fall of Bashar Assad’s rule.
The delegation, led by Iraqi intelligence chief Hamid Al-Shatri, “met with the new Syrian administration,” government spokesman Bassem Al-Awadi told state media, adding that the parties discussed “the developments in the Syrian arena, and security and stability needs on the two countries’ shared border.”