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Monetary Authority launched a new system of credit information

2007-11-05

Monetary Authority launched a new system of credit information

The governor of the Monetary Authority Dr. George Abd yesterday,announced the  launching of a new system of credit information, in the framework of a strategic plan initiated two years ago to shift to a central bank with full powers. He said, in a speech at the  workshop called for by the Monetary Authority, with  managers of banks operating in the Palestinian territories and businessmen: that the new system falls under the development plan adopted by the Monetary Authority, "under which was the establishment of the institutional structure to ensure the success of the transition to Bank central Palestinians exercise all powers of the central Bank of modern and sophisticated. "He added: Accordingly, the Monetary Authority has worked with experts and specialists to prepare for the new law FFCDs CBE / Monetary Authority, as well as the Banking Act, and we will work to produce them before the end of the current year, has also prepared a draft law to combat money laundering in coordination with the competent authorities and endorsed by President Mahmoud Abbas recently, and are currently working on the preparation of a special law to regulate the electronic payment system being implemented, which we hope will also be issued before the end of the year. He continued: this will be completed within the following two months the process of renewing the legal framework of the Monetary Authority, which will become more harmonious and compatible with the developments of modern banking systems and global regulatory policies.