The PMA participated in the "Digital Palestine" event held today in Ramallah, under the patronage and attendance of the Prime Minister, Dr. Mohammed Shtayyeh. The event was organized by the United Nations Development Programme (UNDP) in partnership with the Prime Minister's Office and the Ministry of Telecommunications and Information Technology, in collaboration with the Palestinian Information Technology Association of Companies, with the participation of numerous financial technology institutions and e-payment service companies.
The PMA’s participation in the event included showcasing the key services provided by the "Monshati" e-platform. This platform aims to provide technical, financial, and administrative support to micro, small, and medium-sized enterprises (MSMEs), in addition to facilitating access to financing sources electronically and providing online training. Furthermore, an explanation was provided about the mechanism for entrepreneurs and financial technology companies to benefit from the "Regulatory Sandbox" launched by the PMA. The Regulatory Sandbox serves as a testing environment for innovative solutions and new financial services in a secure and supportive environment.
Mr. Iyad Zitawi, Acting CEO of the Financial Stability Group at the PMA, participated in a session titled "A Citizen-Centered Digital Economy." During this session, the PMA's strategy for developing e-payment methods was discussed, aiming to keep pace with rapid technological advancements and support the transition to technology usage in Palestine. Projects related to digital transformation recently completed by the PMA were also reviewed, including the launch of e-payment service companies, point-of-sale movement services, and the mechanism for submitting applications to the Regulatory Sandbox for testing innovative solutions in financial technology.
The session also addressed future projects currently being implemented by the PMA, such as the Real-Time Gross Settlement system, which will facilitate instant money transfers between customer accounts, and the e-invoice presentation and collection system.