Regulatory Alerts2022-01-01
Circular No. 40 - Letter of His Excellency the Minister of Finance - Retirees
The Palestine Monetary Authority issued Circular No. 40/2022 to circulate a Ministry of Finance letter confirming that the government-managed retirees file operates under the identical terms and conditions as the General Pension Law. The Ministry of Finance directly disburses pension payments to beneficiaries, thereby standardizing administrative procedures across financial institutions. Banks operating in Palestine are formally notified to acknowledge this arrangement and align their regulatory compliance accordingly.
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[Logo of the Palestine Monetary Authority]
Palestine Monetary Authority PALESTINE MONETARY AUTHORITY
Circular No. (40/2022) To all banks operating in Palestine Date: Sunday, 20 February 2022
Subject: Letter of His Excellency the Minister of Finance
Attached for your action is the letter of His Excellency the Minister of Finance No. (M/F.A/2022/203) dated 2022/02/17 regarding retirees, which matches in its terms and conditions the same terms and conditions stipulated in the General Pension Law.
Supervision Group Palestine Monetary Authority
Copy: His Excellency the Minister of Finance, may he be protected.
www.pma.ps Ramallah and Al-Bireh Governorate - Palestine P.O. Box 452 | Tel: +970 2 2415251 | Fax: +970 2 2415310 | info@pma.ps Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825713 | Fax: +970 8 284447
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State of Palestine Ministry of Finance Office of the Minister
State of Palestine Ministry of Finance Office of the Minister
Reference: M/F.A/2022/203 Date: 2022/02/17
To: Dr. Firas Malham, Respected Governor of the Palestine Monetary Authority
Greetings,
Subject: Retirees
With reference to the above subject, please be informed that the retirees file managed by the Ministry of Finance matches in its terms and conditions the same terms and conditions stipulated in the General Pension Law, as the Ministry is responsible for directly disbursing pension payments to beneficiaries.
Please accept our highest respect,
Shukri Bishara Minister of Finance
[Stamp: State of Palestine - Ministry of Finance - Office of the Minister - 17-02-2022 - Issued No. 203]
Ramallah Tel: 00970-2-2978846/7/8 | Fax: 00970-2-2978845 | P.O. Box 795 Ramallah