Regulatory Alerts2022-01-01
Circular No. 247/2022 - Licensing of Microfinance Banks and Digital Banks
The Palestine Monetary Authority has issued Circular No. 247/2022 to solicit stakeholder feedback on its newly adopted policy and draft licensing instructions for microfinance and digital banks. The regulator aims to introduce new financial services that drive economic growth in Palestine and is requesting all payment service companies operating in the territory to submit their comments via the Authority's website before the end of the current month. This consultation process is intended to finalize the comprehensive regulatory framework governing these emerging banking models.
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