Regulatory Alerts2016-01-01
Circular No. 65: Mechanism for Reporting Government Payment Authorizations on the Credit Information System
The Palestine Monetary Authority issued Circular No. 65 to standardize the inquiry and reporting procedures for government payment authorizations on the Credit Information System. The directive requires all operating banks to query accounts via sovereign number PM02080125, establish dedicated system records for deducted authorization data, and report fifteen specific financial and administrative fields according to prescribed codes and values. Implementation relies on a general authorization from the Ministry of Finance to guarantee accurate data exchange and regulatory compliance across the banking sector.
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