Regulatory Alerts2014-01-01
Circular No. 38 Ordinary General Assembly Meetings
The Palestine Monetary Authority issued Circular No. 38/2014 mandating that all local banks operating in Palestine convene their annual ordinary general assembly meetings within four months of their financial year-end. This directive enforces Article 149 of Companies Law No. 12 of 1964 to guarantee timely corporate governance and shareholder accountability. Compliance is overseen by the Authority's Supervision and Inspection Department, with non-adherence constituting a regulatory violation.
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