Regulatory Alerts2018-01-01
Circular No. 34 Al-Najah National University Non-Profit Hospital Company
The Palestine Monetary Authority issued Circular No. 34 to instruct all Palestinian banks to execute Cabinet Decision No. (17/192/10) of 2018, which approves Al-Najah National University Non-Profit Hospital Company (Reg. No. 562525360) to receive 15 million NIS in monthly financing from local institutions, the Ministry of Health, Military Medical Services, and insurance providers to cover operational revenue. The Ministry of National Economy’s Companies Controller formally endorsed this approval and directed banking institutions to process the recurring transfers into the hospital’s designated accounts. This regulatory directive mandates immediate compliance from all commercial banks to facilitate the hospital’s approved monthly funding stream.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (2018/34) To all banks operating in Palestine Date: Tuesday, February 27, 2018
Subject: Al-Najah National University Non-Profit Hospital Company (562525360)
Greetings, Attached is the Cabinet Decision approved on 20/02/2018, and the letter from the Companies Controller dated 25/02/2018 regarding the approval for Al-Najah National University Non-Profit Hospital Company to obtain financing of a specified amount according to the attached decision. Accordingly, please take the necessary measures to implement the decision.
Please accept our highest regards,
Supervision and Inspection Department Palestine Monetary Authority
Attachments: Approved Cabinet Decision. Letter from the Companies Controller.
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2415310
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487
Email: info@pma.ps | Email: info@pma.ps
State of Palestine
Ministry of National Economy
State of Palestine Ministry of National Economy
Date: 25/02/2018
His Excellency Mr. Azzam Shawah Governor of the Palestine Monetary Authority Greetings,
Subject: Allowing Al-Najah National University Hospital/Non-Profit to Obtain Financing (562525360)
The Ministry of National Economy extends its warmest greetings. With reference to the above subject and based on the approval decision issued by the Cabinet, No. (17/192/10) of 2018 (Official Gazette), dated 20/02/2018, regarding the request submitted by the aforementioned company to obtain financing valued at 15,000,000 NIS, funded by the Ministry of Health, Military Medical Services, and various insurance companies to cover the hospital's total monthly revenue, in its accounts with banks operating in Palestine, as stated in the financing request.
Please instruct the gentlemen at the banks operating in Palestine to take the necessary action.
With utmost respect and appreciation,
Dr. Hatem Sarakan Companies Controller
Attached: Copy of the Cabinet Decision Copy to His Excellency the Minister
Ramallah - Tel: +970-2-2977010, Fax: +970-2-2981207/8 - P.O. Box: 1629
Email: info@met.gov.ps ; www.mne.gov.ps
State of Palestine
Cabinet of Ministers
Cabinet Decision No. (17/192/10) of 2018 Approval for Al-Najah National University Company to Receive Financial Amounts Based on the powers authorized to us by law And the Minister of National Economy And based on public interest requirements And after reviewing the Amended Basic Law of 2003 and its amendments; And the Companies Law No. (12) of 1964 and its amendments; And the Non-Profit Companies System No. (3) of 2010 and its amendments; And Cabinet Decision No. (17/99/15) of 2016 (Official Gazette) The Cabinet decided in its session held in Ramallah on (20/2/2018) as follows:
Article One
Approval is granted to Al-Najah National University "Non-Profit" Company, registered under number (562525360), to receive financial amounts, through banks operating in Palestine, according to the following table:
| Project Name | Granting Institution/Funder | Financing Amount | Transfer Date |
|---|---|---|---|
| Monthly hospital revenue against its activities | Local institutions | 15 million NIS | Monthly |
Article Two
The competent authorities shall implement the provisions of this decision, each within its jurisdiction, and it shall take effect from the date of its issuance.
Issued in Ramallah on 20/2/2018.
[Stamp: Cabinet of Ministers - State of Palestine]