/ Wednesday, October 7, 2015 / Categories: PMA Streamlining operations at the Palestine Monetary Authority: first phase of EU-funded project leads to greater automation and efficiency The European Union and the Palestine Monetary Authority (PMA) marked today the completion of the first phase of an EU-funded project and celebrated the activation of the Enterprise Resource Planning (ERP) system. This new software provides PMA's Finance Department with fully integrated and unified solution for the PMA operations. The Governor of the PMA, Dr. Jihad Al-Wazir, said at the ceremony held at the PMA headquarters in Ramallah: “the Management Information System Project would achieve strategic goals, streamlining the way business is conducted inside the PMA in line with international best practices”. Dr. Al-Wazir extended his gratitude to the Ministry of Finance for managing the EU grant and the associated contract. He thanked the European Union for the technical and financial support to the project, and acknowledged the team at the PMA which exerted maximum efforts towards implementing the system. "The PMA plays a key role in the stability of the Palestinian financial system. Over the last few years, we have witnessed a significant development in its work that contributed directly and effectively to a sustainable economic and financial growth of the Palestinian economy, "said Alessandra Viezzer Head of Cooperation at the Office of the European Union Representative."Today we mark an important milestone in our cooperation as we celebrate delivering the new Enterprise Resource Planning software that shall provide the Finance Department of the PMA with a fully integrated and unified solution for its operations. On her side, Ms. Laila Sbaih, General Manager of International Relations and Projects Department at the Ministry of Finance, highlighted the importance of the project and its profound impact on strengthening the capacities of PMA to be the central bank of the Palestinian Government; she also commended the European Union's role in building the capacities of Palestinian institutions. The first phase of the project included the installation and operation of a state-of-the-art system and the incorporation of international best practices in the finance and general service department. Work was also done to integrate PMA's operations with the systems of the Central Bank, especially for immediate transfers, deposits management system and treasury operations. Previous Article PMA Issues Public Finance and Public Debt Developments Report for Second Quarter of 2015 Next Article The Monthly PMA Business Cycle Index (PMABCI) – October 2015 Print 5517