Regulatory Alerts2010-01-01
Palestine Monetary Authority Instructions No. 6 of 2010 Regarding Bank Mergers
The Palestine Monetary Authority issued Instructions No. 6 of 2010 to regulate bank mergers, acquisitions, and consolidations under the Banks Law No. 2 of 2002. The document mandates prior written approval from the Authority for any merger, requiring detailed proposals, board approvals, and shareholder resolutions while prohibiting mergers that harm competition or serve private interests. It establishes comprehensive procedures for voluntary and forced mergers, including asset valuation, license management, and the legal dissolution or continuation of participating banks.
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