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13.2

The PMA started publishing its indicator for the business cycle (PMABCI) on a monthly basis since November 2012. 


 IBAN Instructions | What is IBAN?

About Payment Systems

Safe, efficient and effective Payment Systems play a fundamental role in the economy and promote financial stability in the country. These systems represent the channels where the transmission of funds occur between institutions,  economic activities, financial activities and banking activities. The main role of these systems are the ability to smoothly settle financial obligations arising from these activities efficiently and safely.

In this context, the PMA has opted for a strategic approach in reforming the National Payments System (NPS) of Palestine to modernize the backbone of the National Payments System and the work of payment systems in Palestine in compliance with the best international practices, standards and (Bank of International Settlements) requirements.

Objectives

  • Enhance the payment systems efficiency and safety;
  • Minimize payments risks;
  • Enhance the interoperability and resiliency of payment infrastructures;
  • To establish an efficient and effective legal and institutional framework capable of regulating new payment systems;
  • Broaden the range of payment instruments and services

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IBAN Services

International Bank Account Number (IBAN) is an international standard for identifying bank accounts. The IBAN identifies a beneficiary's bank account and includes specific information the receiving bank will use to automatically apply funds. It also allows bank clients to validate the account number of the transferee (the beneficiary of the value of the amount transferred) before the implementation of the transfer order to a local or international bank.  More >>


Support

Palestine Monetary Authority had established a support unit in the payment systems department. The main tasks and responsibilities of this unit are to provide the required technical and business support for the payment systems participants and as well as for the payment systems users inside PMA.
Both participants and users can communicate the support unit during the regular working hours in the business day on the following addresses :
02-2415250 ext 548
02-2415250 ext 236

E-mail : psdsupport@pma.ps
For further information about support unit , Please see the circular No. 56/2015 issued on 22/03/2015 by PMA.