The Palestine Monetary Authority signs a memorandum of understanding with “MASDAR Cement and Construction Material Trading Company” to provide it with the Unified Credit Query Service

23-6-2022

The Governor of the Palestine Monetary Authority (PMA), Dr. Feras Milhem, signed, today in Ramallah, a memorandum of understanding with the Chairperson of the Board of Directors of “MASDAR Cement and Construction Material Trading Company”, Mr. Luay Qawwas, to provide the company with the Unified Credit Query Service.

 Under this memorandum of understanding, “MASDAR Cement and Construction Material Trading” company shall benefit from the Unified Credit Query System developed by the PMA. This system includes a database that provides some relevant credit and demographic information about the borrowers and their guarantors, individuals or institutions, as well as their classification on the Bounced Cheques System.

This Unified Credit Query Service allows its users from the private sector companies to identify the creditworthiness of the customers they deal with on the basis of credit sale with post-dated cheques, and to take a sound credit decision that will prevent it from being exposed to credit risks.