Regulatory Alerts2024-01-01
Banks - 2024 - Circular No. 27: Final Financial Statements for the Year 2024
The Palestine Monetary Authority issued Circular No. 27 of 2024 to mandate that all licensed banks submit audited final financial statements for the year 2024 electronically by March 31, 2025. The circular requires these statements to comply with Palestinian Financial Reporting Standards (PFRS), be accompanied by the auditor’s report and management declaration, and allow for a fifteen-day correction window for any identified discrepancies. Non-compliance triggers statutory penalties under the Monetary and Banking Law, while preserving the Authority’s right to conduct on-site audits.
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