Regulatory Alerts2008-01-01
Circular No. 7 Facility File Number
The Palestine Monetary Authority mandates all Palestinian banks to implement a new 40-character maximum "Unified Facility File Number" field (Field 42) in their monthly facility data submissions to the credit information database. This requirement, effective for the February 2008 reporting cycle, aims to eliminate duplicate facility records and enhance data reliability by assigning a single unique identifier to each direct and indirect facility, including overdrafts and credit cards. Banks must configure their systems to generate this alphanumeric code according to their internal standards and ensure strict compliance with the updated file sequence and formatting specifications.
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