Regulatory Alerts2016-01-01
Circular No. 155 (2016): Credit Operations System User Permissions Management System
The Palestine Monetary Authority issued Circular No. 2016/155 to mandate the transition from paper-based forms to a digital user permissions management system for the Credit Operations System. Effective September 1, 2016, all lending institutions must cease submitting physical forms for adding, modifying, or suspending user access, as post-deadline submissions will be rejected. The circular designates the System Administrator as the sole liaison with the PMA and requires the System Auditor to enforce dual-control verification and immediate reporting of personnel status changes.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (2016/155)
To all lending institutions operating in Palestine
Date: Wednesday, August 31, 2016
Subject: Credit Operations System User Permissions Management System
Further to PMA Circular No. (2008/47) issued on March 23, 2008, concerning the specifications and conditions for using the Credit Information Service website, and to Item Five of the instruction regarding user permissions management, and within the framework of the PMA's efforts to develop work tools and mechanisms to reduce manual and paper-based processes, a system has been developed to manage users of the Credit Operations System through the Credit Information website, thereby eliminating the use of the paper forms stipulated in the instruction.
Accordingly, institution management is requested to disseminate this circular to users of the Credit Operations System, particularly those nominated by your institutions to manage the user system pursuant to PMA Circulars No. (2016/56) dated April 5, 2016, and No. (2016/104) dated June 14, 2016, and the attached guidelines. In this regard, we wish to highlight the following:
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Institutions and their branches shall cease sending paper forms related to Credit Operations System user permissions effective September 1, 2016. Any paper forms submitted to the PMA after this date for adding/modifying/suspending/modifying user permissions on the Credit Information System will not be approved, and no action will be taken regarding them.
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All follow-ups and correspondence regarding the user system shall be conducted through the System Administrator (Administrator), who serves as the liaison between the institution's management and the PMA.
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The System Auditor (Auditor) in each institution shall be responsible for follow-up and verifying the validity of requests related to user permissions and their compliance with the institution's policies and procedures, thereby ensuring the principle of dual control.
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The System Administrator is obligated to report suspended users, whether due to resignation, leave, transfer, or change in job nature, immediately upon any change in the employee's status.
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Permissions related to the System Administrator and System Auditor shall be assigned by the PMA pursuant to the attached permission addition form included with this instruction, and forms will only be accepted if signed and stamped by institution management.
Ramallah - Palestine PO. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922
Gaza - Palestine PO Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487
Email: info@pma.ps