The PMA holds a workshop to introduce the Automated Control System
In the presence of representatives of institutions subject to its control
Mr. Mohammad Manasra, Deputy Governor of the Palestine Monetary Authority (PMA), opened a workshop for representatives of banks, specialized lending institutions, money changers and electronic payment services companies, with the aim of introducing the Automated Control System (Sup-Tech System), in the presence of the expert Mr. Alan Joyce, the Head of Training from Pfizer Company, which developed the system, Mr. Fares Al-Hindi, Director of the Payment Systems Department and Mr. Hasan Abdul-Jabbar, Project Manager of the Automated Control System.
During his speech, Mr. Mohammad Manasra pointed out that the Automated Control System which the PMA is working on launching it by the beginning of next year, will pose a radical shift in the PMA’s control process over financial institutions subject to its control. This system will automate control and inspection processes, provide a secure and firm infrastructure for data and information gathered from the bodies subject to PMA’s control and direct available resources towards the strategic and developmental control activities.
Mr. Manasra clarified that the development of this system, which is used by over 70 central banks across the world, is part of PMA’s strategy for digital transformation in the banking sector, keeping pace with regulatory developments and enhancing the use of technology in control and supervision. He has further stressed the need for concerted efforts and cooperation between stakeholders to achieve success for this project.
Mr. Alan Joyce, the expert from Pfizer Company delivered the SupTech System Training for the participants, covering its features, functions, advantages, expected outputs, and the practical experience of applying the system in different countries. He further answered the inquiries of the participants.