Regulatory Alerts2025-01-01
Palestine Monetary Authority Circular No. 19 of 2025 on Promoting Financial Inclusion Account Opening Campaigns
The Palestine Monetary Authority issued Circular No. 19 of 2025 to regulate and promote campaigns for opening financial inclusion accounts. The circular mandates that financial institutions adhere to specific operational guidelines and consumer protection standards when conducting such promotional activities. It aims to enhance financial inclusion by ensuring transparency and proper conduct in customer acquisition efforts.
PALESTINE MONETARY AUTHORITY Circular No. (19) of 2025 Date: 26 January 2025
Subject: Promoting Campaigns for Opening Financial Inclusion Accounts
Reference is made to Circular No. (3) of 2021 regarding the opening of financial inclusion accounts.
-
In light of the above, and in order to promote financial inclusion and encourage the opening of financial inclusion accounts, the following guidelines are issued:
-
Financial institutions are required to ensure that all promotional campaigns for opening financial inclusion accounts comply with the regulations issued by the Authority regarding consumer protection and fair treatment of customers.
-
Financial institutions must clearly disclose all fees, charges, and conditions associated with the financial inclusion accounts to customers before opening the account.
-
Financial institutions must provide customers with clear and accurate information about the rights and obligations of both parties.
-
Financial institutions must ensure that their staff involved in promotional campaigns are properly trained and qualified to provide accurate information to customers.
This circular is effective from the date of issuance.
Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 Email: info@pma.ps Fax: +970 2 2415310 Tel: +970 2 2415251 Postal Code: 6160675