Regulatory Alerts2024-01-01
Circular No. 70: Banking Transactions with Charitable Societies
The Palestine Monetary Authority issued Circular No. 70/2024 to address recent unsubstantiated complaints regarding banking services provided to charitable societies. The directive mandates that all operating banks strictly comply with Circular No. 2020/128 when opening accounts and delivering financial services to non-profit organizations. This requirement standardizes regulatory oversight and ensures justified banking practices toward charitable entities.
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