WASHINGTON (Bloomberg) — The Palestinian Monetary Authority will be ready to form a central bank and issue a currency by about 2010, should a sovereign state be created, its governor George Abed said. Issuing its own currency would help a future Palestinian state manage economic growth and inflation through monetary tools, such as interest rates. An electronic payment system, enabling real-time bank and credit card transactions, the purchase and sale of bonds and securities and the monitoring of liquidity in the banking system is being implemented by the monetary authority with the help of the World Bank. read more
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