Palestine Monetary Authority signed a Memorandum of Understanding with Al Wataniya Mobile Company, that allows Al Wataniya Mobile to benefit from the PMA's query system on bounced checks, with certain restrictions including strict confidentiality of data and information on the company and its customers in accordance with the provisions of the pertinent law and regulations.
The memorandum was signed by Dr. Jihad Al Wazir, Governor of the Palestine Monetary Authority, and Mr. Fayez El Husseini, CEO of Wataniya mobile at PMA offices. The MOU will contribute to enriching the comprehensive database of the Credit Bureau supervised by PMA and will serve the public benefit of society at large.
The MOU will allow data exchange and use of credit queries on the system; it also entails the organization by PMA of training courses for Al Wataniya Mobile staff on using the system's services. Al Wataniya Mobile Company will provide automated systems to meet the requirements to connect with PMA’s system.
Signing of this memorandum is part of PMA's joint efforts to enhance financial stability and safety in Palestine, where PMA is coordinating with the rest of the major telecommunications companies to take advantage of this credit service with a view to protecting the national economy by providing the necessary tools to achieve this mission.