Regulatory Alerts2021-01-01
Circular No. 159: Citing PMA Instructions and Decisions
The Palestine Monetary Authority issued Circular No. 2021/159 to mandate that all operating banks and their staff strictly adhere to professional and transparent standards when interacting with customers. The directive explicitly prohibits financial institutions from citing PMA instructions or decisions as justification for refusing to establish business relationships or provide banking and financial services. Furthermore, the regulator warns that it will enforce appropriate and deterrent penalties against any banks or employees found violating this requirement.
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