The Palestine Capital Market Authority and the Palestinian Payment Services Company announced that the authority and its supervised nonbank financial sectors have joined the E-SADAD payment system. The integration expands electronic payment channels for financial and insurance services through banking applications and electronic wallets. Insurance customers can also pay premiums in installments through banking applications.
The rollout covers insurance, securities, financial leasing and mortgage finance, alongside other nonbank financial activities supervised by the authority. Firms in these sectors can pay annual licensing fees through E-SADAD following completion of the platform’s technical integration with the authority’s computerized financial system. The cooperation also includes developing digital solutions tailored to the services and payment collection needs of the regulated sectors.