Regulatory Alerts2016-01-01
Circular No. 77 Bank Accounts of the Lawyers Syndicate
The Palestine Monetary Authority issued Circular No. 2016/74 to instruct all operating banks to exempt the Palestinian Lawyers Syndicate from the signatory authorization requirements stipulated in Circular No. 2016/63. This exemption is granted at the request of the Ministry of Labor, recognizing that the Lawyers Syndicate operates under a separate special law and falls outside the ministry's regulatory jurisdiction. Banks are directed to implement this exemption immediately and adjust their account management procedures accordingly.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (2016/ 74)
To all banks operating in Palestine
Date: Tuesday, May 10, 2016
Subject: Bank Accounts of the Lawyers Syndicate
Attached for your information is a letter from His Excellency the Minister of Labor No. (13767) dated 04/05/2016 regarding the exemption of the Palestinian Lawyers Syndicate from the requirements of Circular No. (2016/63) dated 20/04/2016.
Please take the necessary actions regarding this matter.
Deputy Governor
for Financial Stability Affairs
Supervision and Inspection Department
Copy: His Excellency the Minister of Labor.
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487
Email: info@pma.ps
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487
Email: info@pma.ps
From: 02 2986805 20160504 124103_00025 Page: 1/1 Date: 5/4/2016 12:41:03 PM
In the Name of Allah, the Most Gracious, the Most Merciful
State of Palestine
Ministry of Labor
Minister's Office
P.O. Box: 506
His Excellency Mr. Azzam Al-Shawa, may God protect him
Governor of the Palestine Monetary Authority
Greetings,
Subject: Bank Accounts of the Lawyers Syndicate
The Ministry of Labor extends its best regards. With reference to our previous letter addressed to you regarding the approval of signatories' signatures on bank accounts for syndicates and labor unions, we kindly request that you instruct the relevant parties to exempt the Palestinian Lawyers Syndicate from the aforementioned decision, as this syndicate is governed by a special law and does not fall under the jurisdiction of the Ministry of Labor. Its operations are not subject to the previous procedures and practices previously applied by your authority.
We remain, as always, with highest respect and appreciation,
Dr. Jihad Talabi
Minister of Labor
State of Palestine
Ministry of Labor
Archives Department
04-05-2016
Reference No.: 74
Note: Attached/Filed
Reference No.: 05-2016
Note: Received from the Ministry of Labor
Ramallah Al Eryal
Tel: +970 2 240982 - 5
Fax: +970 2 2409840
This fax was received by PMA fax server.