Regulatory Alerts2023-01-01
Circular 172 of 2023 Regarding the Automated Supervision (SupTech) System
The Palestine Monetary Authority requires all specialized lending institutions operating in Palestine to ensure data readiness and submit required regulatory information through the new Automated Supervision (SupTech) system by 31 August 2023. This mandate follows recent training workshops and Industry User Acceptance Testing (UAT) phases designed to align institutional data with the system's regulatory forms. Consequently, each institution will undergo individualized arrangements for migrating their data onto the centralized platform.
Palestine Monetary Authority
Circular No. (172/2023) To all specialized lending institutions operating in Palestine Date: Tuesday, 08 August 2023
Subject: Automated Supervision System (SupTech)
With reference to the above subject, and in accordance with the measures taken regarding the completion of preparations for implementing the Automated Supervision System project, and the workshop held on 23 May 2023 aimed at training on the system and initiating Industry UAT tests, along with subsequent follow-ups regarding data readiness and its provision in alignment with the regulatory forms provided to you since 24 May 2023 and available on the system, we hereby notify you of the requirement to ensure your institution's readiness to supply us with the required data according to the forms, no later than 31 August 2023.
Accordingly, arrangements will be made with each institution to migrate the data onto the system.
Supervision Group Palestine Monetary Authority
www.pma.ps Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 Postal Code: P6160675 | Phone: +970 2 2415251 | Fax: +970 2 2415310 | info@pma.ps