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The Monetary Authority launched the work on Palestinian payments

2007-09-20

The Monetary Authority launched the work on Palestinian payments

The monetary authority yesterday launched the work to build a Palestinian electronic payment system,marking the launching of the second phase of its strategy to shift to a central banks full power. During a workshop convened by dozens of managers and representatives of banks operating in the Palestinian territories, and the participation of experts from the World Bank and the Central Bank of Italy . It was opened by Dr. George Alabed governor Monetary Authority workshop lengthy speech in which he reviewed the accomplishments of the authority during the past two years at the level of internal reform, and developing and strengthening the Palestinian banking system, and develop laws, and to reactivate Monetary Authority relations with international institutions and the local official and unofficial, which formed in the first phase of the whole process of transition to a central bank, to be followed by a second phase, and major projects include the construction of modern electronic payment system and sophisticated, and building an information system, and the research and monetary policies.
Alabed stated: The draft national payments system designed to automate financial operations using advanced electronic systems, capable of delivery services gross immediate settlement of all transactions are final and continuously, ensuring safety and reduce the risks associated with the reduction of costs.
He added: The workshop comes in the context of continuing efforts by Monetary Authority, in the light of achievements during the past two years through the implementation of radical reform program included all aspects of the institution"s work, at the strategic transformation plan to address the internal situation and then starting to turn in the past few coming from a limited regulatory functions and performance, the central bank full powers capable of the success of the process of issuing the national currency and monetary policy management, when political circumstances permit so.

 

 

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