Palestinian PM to visit Gaza next week for reconciliation efforts

Palestinian Authority Prime Minister Rami Hamdallah, Tuesday, April 21, 2015 (AP)
Updated 25 September 2017
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Palestinian PM to visit Gaza next week for reconciliation efforts

JERUSALEM: Palestinian prime minister Rami Hamdallah will travel to Gaza on October 2 as part of a fresh push to end a decade-long split between Fatah and Hamas, which runs the enclave, his government said Monday.
The visit follows concessions by Islamist group Hamas after discussions with Egypt, which has urged it to take steps toward reconciliation with Palestinian president Mahmud Abbas’s Fatah, based in the occupied West Bank.
Fatah and Hamas have been divided for a decade, with separate administrations in the West Bank and Gaza Strip.
“Prime minister Rami Hamdallah has decided after consulting with president Mahmud Abbas that the government will hold its weekly meeting in Gaza next week,” government spokesman Yusuf Al Mahmoud said in a statement published by official Palestinian news agency WAFA.
“Hamdallah and members of the government will arrive in Gaza next Monday to start taking over government responsibilities after Hamas announced its agreement to dissolve the administrative committee and enable the government to assume its full responsibilities.”
Hamdallah, who is not believed to have traveled to the Gaza Strip since 2015, also wrote about the visit on his Facebook page.
“I am heading to the beloved Gaza Strip next Monday with the government and all bodies, authorities and security services,” he wrote.
“We hope all parties and all Palestinians will focus on the national interest to enable the government to continue carrying out all of its functions in a way which serves the Palestinian citizens first.”
Hamas said a week ago that it had agreed to steps toward resolving the split with Abbas’s Fatah, announcing it would dissolve a body seen as a rival government — known as the administrative committee — and was ready to hold elections.
The statement came after Hamas leaders held talks with Egyptian officials and with the Gaza Strip facing a mounting humanitarian crisis.
It remains unclear whether the steps will result in further concrete action toward ending the deep division with Fatah.
Hamas for now continues to run a de facto separate administration in the Gaza Strip and is in charge of security forces there.
Previous attempts to resolve the split have repeatedly failed. The last attempt at a unity government fell apart in 2015, with the two sides exchanging blame.
Hamas has run Gaza since 2007, having seized it in a near civil war from Fatah following a dispute over parliamentary elections won by the Islamist movement the previous year.
It formed the administrative committee in March, and since then Abbas has sought to put further pressure on the Islamist movement, reducing electricity payments for the Gaza Strip and cutting salaries for public employees.
The West Bank and Gaza have not participated in an election together since 2006.
Abbas, whose term was meant to end in 2009, has remained in office with no election held.
The Gaza Strip has meanwhile faced deteriorating humanitarian conditions, including a severe electricity crisis and a lack of clean water.
The coastal enclave of some two million people also has one of the world’s highest unemployment rates and has seen three wars with Israel since 2008.
It has been under an Israeli blockade for around a decade, while its border with Egypt has also remained largely closed in recent years.
Facing those conditions, Hamas has turned to Egypt for assistance, particularly for fuel to produce power and with hopes of opening the border — and has faced pressure to take steps toward Palestinian reconciliation in return.


Syria announces new currency framework, 2-zero redenomination

Updated 29 December 2025
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Syria announces new currency framework, 2-zero redenomination

  • Under the plan, every 100 Syrian pounds will be converted into one unit of the new Syrian Arab Republic’s pound
  • Governor calls move ‘pivotal milestone within a comprehensive strategy’

DAMASCUS: Syria’s Central Bank announced executive instructions on Sunday to introduce a new Syrian currency, launching a monetary reform that includes removing two zeros from the pound and allowing a 90-day period of dual circulation.

The announcement was made during a press conference at the bank’s headquarters in Damascus.

Central Bank Gov. Abdulkader Husrieh said the step was part of a comprehensive institutional strategy to restore confidence and achieve sustainable economic stability.

He said: “The launch of the new currency is not a formal measure, but a pivotal milestone within a comprehensive strategy based on solid institutional foundations.”

Under the plan, every 100 Syrian pounds will be converted into one unit of the new Syrian Arab Republic’s pound. The old and new currencies will circulate together for 90 days, a period which may be extended.

All bank balances will be converted to the new currency at the beginning of next year, while the overall money supply will be maintained without increase or reduction.

An employee at a currency exchange shop stacks Syrian bills at a shop in Damascus. The old currency is expected to be taken out of the market in the next few months. (AFP file photo)

Husrieh said the economic strategy was based on five pillars: monetary stability, a stable and transparent foreign-exchange market, effective and accountable financial institutions, secure digital transformation, and balanced international economic relations.

He said the move required updating financial laws and regulations, improving data systems, keeping pace with global digital developments, and ensuring sustainable financing and training for the financial sector.

The currency exchange will be provided free of charge, with no commissions, fees, or taxes.

All public and private entities must apply the official conversion standard to prices, salaries, wages, and financial obligations. Official exchange-rate bulletins will be issued in both currencies to ensure transparency and prevent speculation.

The governor said the central bank was closely monitoring markets to stabilize the exchange rate and would supply Syrian pounds if demand for foreign currency rises, adding that citizens will feel the impact more clearly after the exchange process is completed.

“Our policy is financial discipline, with no room for inflation,” Husrieh added.

He confirmed that the decree regulating the exchange limits the process to Syrian territory, and said the measures fell within the bank’s 2026-2030 strategy to align with international standards.

The new banknotes, he added, were being printed by leading international companies to prevent counterfeiting.