The Palestine Monetary Authority (PMA), with assistance from Ramallah-based Al-Andalus Software Development, recently released a “credit reports handling system” that allows financial institutions to access to individual’s credit histories electronically. Previously, credit report requests had to be filed in person at PMA offices in the cities of Ramallah or Gaza.
At the same time, PMA released a new consensual settlement system as well as upgraded systems for checks that have bounced or have been canceled via stop-payment orders.
The six microfinance institutions that have reported data to the US-based nonprofit Microfinance Information Exchange since 2014 serve 60,000 borrowers with an aggregate loan portfolio of USD 121 million. None report accepting deposits.
Sources and Additional Resources
Palestine Monetary Authority
Al-Andalus Software Development
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