Regulatory Alerts2024-01-01
Circular No. 6/2024 Update of Company Data
The Palestine Monetary Authority issued Circular No. 6/2024 to suspend the mandatory submission of updated registration certificates for Gaza-based companies until current crisis conditions resolve, while ensuring uninterrupted financial services. Banks must maintain standard and enhanced due diligence procedures, accept free inquiry response data as reliable for verifying shareholders and authorized signatories, and facilitate remote data updates through internet and mobile banking applications. These measures eliminate service restrictions tied to data updates and remove the requirement for new registration certificates when existing bank records remain unchanged.
Share