Regulatory Alerts2021-01-01
Circular No. 2021/123 Bank Commitment Certificate / Discharge Certificate
The Palestine Monetary Authority issued Circular No. 2021/123 to mandate strict compliance with Circular No. 2013/88 regarding the immediate issuance of Bank Commitment Certificates and Discharge Certificates to customers upon request. This directive addresses widespread customer complaints concerning delays by bank branches and explicitly reaffirms that all operating banks must adhere to the established procedural requirements. Failure to comply will trigger formal legal enforcement measures in accordance with regulatory protocols.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (2021/123)
To all banks operating in Palestine
Date: Wednesday, 02 June, 2021
Subject: Bank Commitment Certificate / Discharge Certificate
In light of complaints received from bank customers regarding the delay by several branches/offices in providing them with a Bank Commitment Certificate/Discharge Certificate upon request, which contradicts the requirements of Circular No. (2013/88) regarding the Bank Commitment Certificate/Discharge Certificate, the Palestine Monetary Authority emphasizes the strict compliance with the requirements of the aforementioned Circular, otherwise legal measures will be taken in accordance with due process.
Supervision Group
Palestine Monetary Authority
Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452
Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452
info@pma.ps | Fax: +970 2 2415310 | Fax | Tel: +970 2 2415251 | Tel
Gaza - Palestine P.O. Box 4026
Gaza - Palestine P.O. Box 4026
Fax: +970 8 2844487 | Fax | Tel: +970 8 2825713 | Tel
www.pma.ps