Regulatory Alerts2022-01-01
Circular No. 80 Application of the National Definition and Classification of Economic Establishments
The Palestine Monetary Authority issued Circular No. 80/2022 to mandate the standardized application of the National Definition and Classification of Economic Establishments across all banking institutions operating in Palestine. The directive requires banks to accurately declare the sales volume and total and part-time employee counts for all economic establishments through their credit registry screens when processing credit facility applications. This enforcement aligns with prior regulatory frameworks to ensure consistent data reporting and compliance with national economic classification standards.
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