Regulatory Alerts2021-01-01
Circular No. 76/2021 - Signatory List
The Palestine Monetary Authority issued Circular No. 76/2021 to mandate that all specialized lending institutions in Palestine prepare, approve, and submit a signatory list aligned with their internal financial and administrative authority matrices. Institutions must deliver an official hard copy to the regulator by the end of March annually and report any subsequent amendments within five working days. The circular explicitly repeals the previous 2015 directive on signatories and requires an additional digital copy to be emailed to the authority.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (76/2021)
To all specialized lending institutions operating in Palestine
Date: Monday, March 29, 2021
Subject: Signatory List
Further to the requirements of Circular No. (2015/95) dated 25/06/2015 regarding Signatories; all specialized lending institutions must comply with the following:
- Prepare and approve the institution's signatory list in accordance with the institution's approved financial and administrative authority matrix.
- The list must include the signatories for the institution's board of directors and its senior management.
- Provide the Palestine Monetary Authority with a clear, official hard copy of the approved institutional signatory list, no later than the end of March each year.
- Notify the Palestine Monetary Authority of any amendments to the approved signatory list, within five working days from the date of amendment.
Please also provide an additional copy of the list via email to scdivision@pma.ps
Note: Circular No. (2015/95) regarding Signatories is hereby repealed.
Supervision Group
Palestine Monetary Authority
Footer Notes:
Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 - Palestine
info@pma.ps | Fax: +970 2 2415310 | Tel: +970 2 2415251
Gaza - Palestine P.O. Box 4026 - Palestine
www.pma.ps