Regulatory Alerts2014-01-01
Circular No. 2014/159: Development of the Credit Information System (Version III)
The Palestine Monetary Authority issued Circular No. (2014/159) to announce the imminent official launch of Version III of the Credit Information System and to require all operating banks to submit employee nominations for a mandatory training workshop within three working days. The circular specifies that nominated personnel, representing all bank branches, must be responsible for executing customer inquiry and record opening operations within the system. The Authority will subsequently communicate the workshop's precise date and venue within ten days to facilitate system adoption and operational readiness.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (2014/159)
To all banks operating in Palestine
Date: Thursday, October 30, 2014
Subject: Development of the Credit Information System – (Version III)
Further to Circular No. (2013/61) issued on May 7, 2013, concerning the development of credit operations systems, and following discussions and meetings held with the banking sector in particular, the Palestine Monetary Authority has previously developed the third version of the Credit Information System, which was launched in early 2008. A comprehensive evaluation of the system was conducted, resulting in developments across various aspects to achieve its intended purpose and better serve users from the banking sector and lending institutions.
Accordingly, and in preparation for the official launch of the new version before the end of this year, the Palestine Monetary Authority will hold a training workshop in the near future to inform and train users of the Credit Information System on the most important developments made to the system. Bank administrations are kindly requested to provide us, within three working days from the date of this circular, with their nominees for the training workshop and the following details (full name, official job title, direct phone number, and email address) for the nominated employees. The nominations should be for employees responsible for performing the following operations on the Credit Information System:
- Performing customer inquiry operations
- Performing record opening operations
Please note that the nominations should cover all bank branches. The specific date and venue for the workshop will be communicated to you within ten days from the date of this circular.
Public Relations and Market Officers Department
Palestine Monetary Authority
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