The Palestine Monetary Authority signs a memorandum of understanding with Al-Ajoli Center Trading Company to provide it with it with the Unified credit Inquiry Service

Ramallah and Al-Bireh Governorate

22/12/2021

The Governor of the Palestine Monetary Authority (PMA), Dr. Feras Milhem, signed today a memorandum of understanding with the Chairman of the Board of Directors of Al-Ajoli Center Trading Company Mr. Saleh Bawatna, to provide the company with the Unified credit inquiry service

The memorandum of understanding provides for company to benefit from the system developed by the PMA, which includes a database that provides some relevant credit and demographic information about borrowers and their sponsors, individuals or institutions, and their classification on the bounced cheques system.

The Governor of the PMA stressed the importance for companies to take advantage of the banking and financial systems established and developed by the PMA, to facilitate their financial transactions, pointing out that the credit inquiry service works to enhance their position and investment capabilities and protect them from exposure to cash liquidity or credit solvency problems, noting that the unified credit inquiry service enables its users of private sector companies to identify the credit solvency of the clients they deal with on the basis of credit sale with post-dated cheques and taking a sound credit decision that will prevent it from being exposed to credit risks.

For his part, Mr. Saleh Bawatna thanked the PMA for its cooperation and efforts in the field of banking and financial stability.