Regulatory Alerts2012-01-01
Instructions No. 11 of 2012 on Appointment, Transfer, Disciplinary Procedures, and Resignation
The Palestine Monetary Authority issued Instructions No. 11 of 2012 to strictly regulate the appointment, transfer, promotion, and resignation of senior officials and consultants across all Palestinian banks. The directive mandates prior written regulatory approval for key appointments, establishes rigorous eligibility criteria including educational minimums and clean criminal records, and requires transparent, competence-based recruitment and performance evaluation systems. It further imposes immediate notification obligations for disciplinary actions, violations, or resignations, while outlining specific procedures for internal transfers and succession planning to ensure institutional stability and compliance.
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