Palestine Monetary Authority Organizes a Training Session for Economic Journalists Titled "Electronic Clearance and Reading Cheque Data"

November 21, 2021 - Palestine Monetary Authority organized today in Ramallah a training session for journalists working in the field of economic journalism titled "Electronic Clearance and Reading Cheque Data." The training was organized in cooperation with the Palestinian Journalists' Syndicate. The Executive Director of the Financial Stability Group, Mr. Eyad Zeitawi, the Director of Public Relations and Communication Department, Mrs. Irene Saadeh, and the Coordinator of the Network of Economic Journalists, Mr. Ayham Abu Ghosh attended the training.

Mr. Hatem Hamdallah from the Financial Stability Group of Palestine Monetary Authority explained electronic clearance launched recently, and its mechanism of operation and the impact of electronic clearance on cheque dealers, as well as the misuse of cheques and the risks of returned cheques to financial stability. Mr. Hamdallah also explained the practices of Palestine Monetary Authority to reduce the use of cheques and create alternative tools for them.

Mr. Salim Hamadneh, Head of Credit Operations Systems, also explained how the returned cheque system worked, the components of the system and the mechanism of categorization of clients in the system and how cheque data at Palestine Monetary Authority's website can be read, compared and analysed. Mr Hamadneh also explained the consensual settlement system and the mechanism for implementing the settlement of returned cheques.

Palestine Monetary Authority has previously organized specialized workshops and courses for journalists following a memorandum of understanding signed with the Palestinian Journalists' Syndicate in order to develop economic media.