Regulatory Alerts2022-01-01
Circular No. 208: Use of Personal Accounts in Commercial Business
The Palestine Monetary Authority requires all banks operating in Palestine to accurately disclose commercial banking facilities granted under personal account names within their submitted credit information reports. This directive enforces Circular No. (2020/234) by restricting personal account usage for business and promoting trade-name account registration. Banks must provide the Authority with precise statistics on these accounts within one week of the circular's date.
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