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State of Palestine

No Open Banking

Palestine is a state located in Western Asia. Around 40% of adults in Palestine are unbanked.

80% of the households in Palestine have internet access at home.

Around 60% of adults in Palestine have bank accounts, leaving around 40% unbanked. However, according to the “National Strategy for Financial Inclusion in Palestine: 2018-2025the country is still experiencing low levels of access to and use of financial services where large numbers of adults remain excluded from the formal financial system.

In 2020, the Palestine Monetary Authority (PMA) granted permission for the use of mobile payment services and digital wallets. 

In 2021, the PMA created the National Fintech Taskforce that aims to streamline collective efforts to explore the potential of the Fintech sector and promote it in Palestine.