Regulatory Alerts2021-01-01
Circular No. 77/2021: Signatory Mandate and Correspondence
The Palestine Monetary Authority issued Circular No. 77/2021 requiring all payment service companies operating in Palestine to prepare, approve, and submit a comprehensive signatory mandate detailing authorized board members and senior management. Companies must submit the mandate annually by the end of March and notify the Authority of any amendments within five working days. Additionally, the circular stipulates that general correspondence to the Authority must be signed by the CEO or deputies, while letters addressed specifically to the Governor require the signature of the Board Chairman or their deputy.
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