Central Banking

Palestine launches hybrid payments system

The Palestine Monetary Authority's new payments system will be capable of processing both wholesale and retail payments, it emerged Monday.

Perago, a financial infrastructure firm, will create the real-time gross settlement system, which will also allow for developments in online and mobile banking. The firm described the system as a "strategic development towards the Palestinian State."

"It will enable the efficient clearing and settlement of payments within the banking system in Palestine

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