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BCI Group signs agreement with Palestine Monetary Authority to build database

By JT - Jun 26,2019 - Last updated at Jun 26,2019

AMMAN — A subsidiary company of BCI Group has recently signed an memorandum of understanding with Palestine Monetary Authority to develop the ICT sector and services in Palestine, according to a statement sent to The Jordan Times.

The signing ceremony was attended by the Governor of the Palestine Monetary Authority Azzam Shawwa and BCI Group for Communication and Advanced Technology Chairman Said Baransi.According to the agreement, BCI will use the Palestine Monetary Authority’s Credit Registry System to provide the authority with credit history and other demographic information about borrowers and their guarantors. 

“As per our plan to facilitate technology based services, we worked on this partnership to create a data base with a ranking system to provide individuals and companies with advanced financial services”, Baransi said in the statement.  Shawwa added: “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 their investment abilities through the credit registry system.” According to the statement, the memorandum 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.

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