Regulatory Alerts2006-01-01
Circular No. 57: Providing Data to Any Entity Other Than the Monetary Authority
The Palestinian Monetary Authority issued Circular No. 57 to explicitly reaffirm that it is the sole authorized entity for communicating with banks and accessing their operational and customer data. The circular mandates that all banks strictly prohibit the disclosure of any statistical, aggregated, customer, account, debt, or personal information to third parties, except for data properly published in media or online channels. Any unauthorized data sharing or third-party access is legally prohibited under Article 43 of Banking Law No. 2 of 2002, with exceptions permitted only upon explicit written customer consent or a valid court order.
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