Palestine Exchange and Central Bank Sign MoU for Exchange's Integration into E-SADAD Platform

SadaNews - The Central Bank and the Palestine Exchange signed a memorandum of understanding regarding the integration of the Palestine Exchange into the national invoicing and payment platform E-SADAD.

The memorandum was signed in the presence of His Excellency the Governor of the Central Bank, Mr. Yahya Shanar, and the Deputy Governor Mr. Mohammed Manasra.

The memorandum was signed by the General Director of the Palestinian Payment Services Company, Mr. Nader Al-Salhi, and the General Director of the Palestine Exchange, Mr. Nihad Kamal.

The aim of the memorandum is to enable the Palestine Exchange to benefit from the platform's services, which will facilitate the electronic presentation and payment of financial obligations, improve financial collection efficiency, and provide easier and more transparent services to the exchange's clients.

For his part, the Governor of the Central Bank, Mr. Yahya Shanar, stated that this step comes as part of the Central Bank's efforts to expand the use of national electronic payment systems, in line with the Central Bank's directions to support digital transformation and develop national payment systems, and to enhance integration among financial sector institutions, contributing to improving the quality of financial services provided to institutions and citizens, and supporting financial inclusion in Palestine.

On his part, the General Director of the Palestine Exchange, Mr. Nihad Kamal, mentioned that the exchange's integration into the E-SADAD platform is part of its ongoing efforts to develop and modernize its digital infrastructure, aligning with the latest global standards in financial markets, and enhancing the confidence of investors and shareholders by providing secure and easy digital channels for fulfilling financial obligations and offering more efficient, easier, and reliable digital financial services, which contributes to enhancing the efficiency of operational processes and elevating the investor experience in the Palestinian financial market.

It is worth noting that the E-SADAD platform is a national electronic payment platform available through all banking applications and electronic wallets. It offers invoicing and payment services for public and private institutions, allowing various companies and institutions that offer invoiced services to join and benefit from the digital infrastructure of payment systems. The platform currently encompasses more than 180 invoiced entities, alongside over 600,000 registered users.