Regulatory Alerts2024-01-01
Palestine Monetary Authority Circular: Sustainable Finance Roadmap for Banks 2024
The Palestine Monetary Authority issued Circular 2024/7 on December 2, 2024, establishing a comprehensive roadmap for sustainable finance within the banking sector. This directive mandates banks to integrate Environmental, Social, and Governance (ESG) factors into their strategic planning, risk management, and operational frameworks. The regulation aims to align Palestinian financial institutions with international sustainability standards to promote responsible investment and long-term economic resilience.
PALESTINE MONETARY AUTHORITY
Circular (2024/7)
Sustainable Finance Roadmap for Banks
Date: December 2, 2024
In accordance with the provisions of the Monetary Authority Law No. (1) of 2023, and in light of the Authority's commitment to promoting sustainable finance and integrating Environmental, Social, and Governance (ESG) factors into the banking sector, the following is hereby issued:
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This Circular establishes the Sustainable Finance Roadmap for Banks in Palestine for the year 2024.
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All banks operating in Palestine are required to adhere to the guidelines and standards outlined in this roadmap to enhance their contribution to sustainable development and manage ESG-related risks.
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This Circular takes effect from the date of issuance.