Regulatory Alerts2023-01-01
Circular No. 248: Implementation of Individuals Inquiry Application QR Code
The Palestine Monetary Authority issued Circular No. 248/2023 to mandate all Palestinian banks to integrate their systems with the Authority's Individuals Inquiry Application for both new and old QR code formats. Effective January 2, 2024, banks must enable the automated transmission and exchange of QR code data to ensure system continuity and operational readiness. Compliance requires aligning internal banking infrastructure with the technical specifications outlined in Circular No. (2022/207).
Palestine Monetary Authority PALESTINE MONETARY AUTHORITY
Circular No. (248/2023) To all banks operating in Palestine Date: Thursday, November 30, 2023
Subject: Implementation of Individuals Inquiry Application / QR Code
Following the Palestine Monetary Authority Circular No. (2023/185) and Instructions No. (2023/8) regarding check printing and the new QR code, and to ensure banks' readiness and the continuity of the Individuals Inquiry system, please be advised of the following:
- Effective January 2, 2024, data for the new or old QR code will be transmitted from the Individuals Inquiry application of the Palestine Monetary Authority to banking systems.
- Banks are required to develop their banking systems to enable data exchange with the Individuals Inquiry application for both the new and old QR codes, in accordance with the technical specifications document attached to Circular No. (2022/207).
Financial Stability Group Palestine Monetary Authority
www.pma.ps Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 Ramallah & Al-Bireh Governorate - Palestine P.O. Box Postal Code: P6160675 | Phone: +970 2 2415251 | Fax: +970 2 2415310 | info@pma.ps