Palestinian Monetary Authority launches instant payment system
Move aimed at providing alternative to traditional services damaged during conflict
The Palestine Monetary Authority (PMA) on July 23 launched a system aimed at facilitating quick payments between banks and e-wallets.
The PMA said that under the new payment system, known as Iburaq, the amount would be credited to the beneficiary account immediately and the payer would be notified within 10 seconds.
The monetary authority added that Iburaq was being set up as an alternative to traditional services “after the destruction of the infrastructure, the interruption of electricity and
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