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HJC and Palestinian Monetary Authority Agree on Joint Cooperation  


8/17/2020

Chief Justice Chancellor Issa Abu Sharar met with Governor of Palestinian Monetary Authority Mr. Azzm Shawwa in the presence of Secretary General Asad Shunnar and Director of Supervision and Inspection Department at Monetary Authority Mr. Mohammed Manasrah. This meeting came to discuss several topics of economic and banking impact, including ways to address registration of executive cases that related to credit institutions in Execution Departments, judicial process mechanisms that deal with bounced cheques in electronic registry of e-clearing funds, in case applicable.

Chancellor Abu Sharar assured that the implementation of e-clearance for cheques needs amendments for legislations in related laws in order to be legalized before courts. Chief Justice also indicated that registration of executive proceedings for credit institutions contributes in false files and raise load at execution departments; it is worth noting that both parties agreed on continuing dialog in this regard to gain access to a mechanism that consistent with applicable laws to ensure rights for all parties.

For his part, Mr. Shawwa pointed out that Monetary Authority is in progress to implement e-clearance to collect payments of deferred cheques; this will help to exchange cheques' scans and information between banks instead of dealing with hardcopies. He also assured that the Monetary Authority will issue instructions to credit institutions in order to task their lawyers to close all files completed at executions departments.