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RAMALLAH, West Bank — Instability plaguing Palestinian political and economic conditions appears to be dissuading Palestinians from investing their savings, given the high risks that investments entail there. However, people's preference for the safety of banks has created impressive growth in deposits.
Palestinian Monetary Authority (PMA) Gov. Azzam Shawwa said during an Oct. 2 workshop in the northern West Bank city of Nablus that individual customer deposits in Palestinian banks amounted to around $12 billion as of the end of August, which is a high figure in light of the deteriorating economic situation in the Palestinian territories.
