Regulatory Alerts2019-01-01
Circular No. 233: Approval of Boards of Directors of Charitable Associations, Foreign Association Branches, and Their Financial Committees
The Palestine Monetary Authority mandates all Palestinian banks to recognize either the Deputy Minister of Interior or the Director General of Non-Governmental Organizations as authorized signatories for approval letters concerning charitable association boards, foreign association branches, and their financial committees. Issued in coordination with the Ministry of Interior, this directive requires financial institutions to update their verification protocols to accept these designated signatures for legal validity. Banks must immediately implement this change to ensure uninterrupted processing of association approvals and maintain full regulatory compliance.
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