Regulatory Alerts2019-01-01
Circular No. 2019/275 Accuracy of Data Declaration for the Banking Accounts System
The Palestine Monetary Authority issued Circular No. 2019/275 to mandate that all banks operating in Palestine accurately declare the nationality of resident customers as Palestinian (PS) in their submitted data files for the Banking Accounts System. This directive addresses observed reporting errors where non-Palestinian nationality codes were incorrectly applied to residents and requires strict compliance with previous circulars governing the system. Failure to adhere to these data accuracy standards will result in appropriate legal enforcement actions to maintain the integrity and completeness of the national banking database.
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