Regulatory Alerts2016-01-01
Circular No. 225 Short Message Service
The Palestine Monetary Authority mandates that all banks operating in Palestine must send short message service (SMS) communications to customers in Arabic to enhance transparency and protect consumer rights. Banks are exempted from this requirement only for customers who explicitly request to receive their SMS notifications in English. This directive applies to all existing and future SMS communications issued by regulated financial institutions.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (2016/225)
To all banks operating in Palestine
Date: Monday, December 19, 2016
Subject: Short Message Service (SMS)
In the context of the Palestine Monetary Authority's efforts to enhance transparency and disclosure standards and protect the rights of banking service consumers, and in light of some banks sending short messages (SMS) to their customers in English, all banks are required to adopt the Arabic language when sending short messages (SMS) to their customers. This requirement does not apply to customers who explicitly request to receive their messages in English.
Market Discipline Department
Palestine Monetary Authority
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487
Email: info@pma.ps
Email Address: info@pma.ps
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487
www.pma.ps