Regulatory Alerts2021-01-01
Circular No. 168/2021: National Definition and Classification of Economic Enterprises
The Palestine Monetary Authority, citing Cabinet Decision No. 18/115/2021, mandates all Palestinian banks to adopt the newly amended national definition and classification of economic enterprises. This directive requires financial institutions to align their policies and strategies with the updated five-tier size categories—Micro, Very Small, Small, Medium, and Large—based strictly on employee counts and annual turnover thresholds. The classification standardizes enterprise sizing across the Palestinian economy to facilitate targeted economic empowerment and regulatory coordination among the Ministry of National Economy, Ministry of Finance, and capital market regulators.
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