Regulatory Alerts2015-01-01
Circular No. 119: Language of Official Documents Required for Account Opening and Updating
The Palestine Monetary Authority issued Circular No. 19/2015 mandating that all banks operating in Palestine must use Arabic as the primary language for official documents required during account opening and updating processes, particularly for companies, institutions, and entities. This directive reinforces previous instructions (No. 2009/08) by requiring that if original documents are not in Arabic, banks must obtain and retain officially certified Arabic translations. The requirement takes effect immediately upon the circular's issuance date of October 1, 2015, and applies to all new and updated accounts without exception.
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