Regulatory Alerts2021-01-01
Circular No. 2021/129: Authorization for Electronic Customer Inquiries
The Palestine Monetary Authority issued Circular No. 2021/129 to permit lending institutions to obtain customer authorization for credit inquiries electronically instead of via direct written consent. The directive mandates that institutions implement secure mechanisms, such as OTP verification, to ensure data matching and maintain confidentiality of central database information. Institutions are held fully responsible for the accuracy of submitted data and must secure prior regulatory approval before launching the service.
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