To connect with credit registry system, BCI Group signs agreement with Palestine Monetary Authority

Jordan

Published: 2019-07-07 17:34

Last Updated: 2019-07-07 17:34


To connect with credit registry system, BCI Group signs agreement with Palestine Monetary Authority
To connect with credit registry system, BCI Group signs agreement with Palestine Monetary Authority
Roya News Source

Aiming to develop the ICT sector and services in Palestine, B Cell; a subsidiary company of BCI Group signed an MOU with Palestine Monetary Authority. The signing ceremony was attended by His Excellency Mr. Azzam Shawwa, the Governor of Palestine Monetary Authority and Mr. Said Baransi, Chairman of the Board of BCI Group for Communication and Advanced Technology Ltd.

According to the agreement, BCI will connect to the Credit Registry System; developed by the Palestine Monetary Authority, to provide credit history and other demographic information about borrowers and their guarantors; either individuals or institutions and their ranking in the returned checks system.

Mr. Said Baransi, Chairman of the Board of Directors of BCI Group for Communication and Advanced Technology Ltd, commented by saying, "As per our plan to facilitate technology-based services, we worked on this partnership to create a database with a ranking system to provide individuals and companies with advanced financial services, for example, credit check on borrowers in the Palestinian market."

"We appreciate the Palestine Monetary Authority’s efforts in supporting the development of the economic environment, by involving the private sector in such systems to protect and maintain their sustainability. The financial systems they provide have a pivotal role in helping private sector companies obtain credit facilities with ease, especially with the difficult economic situation of the Palestinian people," he added.

His Excellency Mr. Azzam Shawwa, the Governor of Palestine Monetary Authority commented by saying, "We thrive to ensure economic stability and monitor it in order to enhance growth in Palestine. And now, companies will be able to enhance and protect its investment abilities through the credit registry system."

Mr. Shawwa also said the MOU abides with banking confidentiality principles, where businesses will identify customers’ credit solvency when selling on credit where customers use postdated checks and take the right decision that saves them from engaging in credit risks.

It’s noteworthy to mention that BCI Group thrives through its strategies to offer consumers with the latest technologies and services in Jordan, Palestine and Iraq from its companies; BCI, MultiCell and BNet.