Innovative financial technology has become one of the most promising industries in the world, due to its ability to employ modern technological mechanisms and techniques and benefit from them in expanding the provision of financial services and products. Innovative, which greatly helps in increasing the efficiency of financial services and expanding their reach. In view of the PCMA’s role as a catalyst for the development process and a supporter of the non-banking financial technology industry, the PCMA launched its five-year strategy for the years 2021-2025 to advance the financial technology and innovation system in line with the goals and directions of the Palestinian government
The Ebtaker platform aims to enhance and facilitate effective communication between the Capital Market Authority and the owners of innovations and pioneering ideas related to the non-banking financial sector. They were by the currently licensed authorities or by other parties. Add to this the importance of innovation in promoting financial inclusion by increasing the rates of access and use of non-bank financial services and products, and contributing to financial stability and integrity of the financial sector and protecting the rights of its clients.
Ebtaker is considered a “tool for facilitating and encouraging innovation in the areas of capital market sectors to enhance their competitiveness, through a platform that facilitates the process of orderly communication between the innovator and the PCMA in order to provide the necessary advice and guidance to entrepreneurs and innovators in the regulatory aspects related to the development of technological financial services or new innovations related to services Digital finance and enabling the PCMA to learn about the latest innovations related to the non-banking financial sector and its trends.”
The PCMA’s policies in encouraging innovation in financial technology aim to achieve the following:
- Expansion of the formal financial sector.
- Contribute to the horizontal expansion of services and products provided by the non-banking financial sectors, by reaching new and unserved categories in Palestinian society.
- Enhancing financial inclusion by increasing the rates of access and use of non-bank financial services and products by all target groups, specifically entrepreneurs and owners of small, medium and micro enterprises.
- Reducing the costs of financial services and products through the use of financial technology, and the development of new financial services and products.
- Contribute to financial stability and integrity of the financial sector and protect the rights of customers.
To enter the Ebtaker platform through the following link: www.ebtaker.ps