Regulatory Alerts2019-01-01
Circular No. 241: External Exposures
The Palestine Monetary Authority issued Circular No. 241/2019 mandating all Palestinian banks to monitor, reduce, or liquidate their financial exposures to Hong Kong, China, and India. This directive addresses recent political and financial instability in these jurisdictions to prevent potential capital losses or asset devaluation. Banks must implement immediate preventive measures to actively manage and mitigate these cross-border investment risks.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (241 / 2019)
To all banks operating in Palestine
Date: Sunday, October 20, 2019
Subject: External Exposures
In the context of the Palestine Monetary Authority's efforts to limit exposure risks to countries facing recent political and financial instability, particularly Hong Kong, China, and India, all banks are required to take preventive measures to monitor their exposures to the aforementioned countries and the institutions operating therein, and to work, where possible, to liquidate or reduce these exposures to avoid risks that banks may face due to losses or depreciation in the value of these investments.
Supervision and Inspection Department
Palestine Monetary Authority
Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452
Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452
info@pma.ps | Fax: +970 2 2415310 | Fax | Tel: +970 2 2415251 | Tel
Gaza - Palestine P.O. Box 4026
Gaza - Palestine P.O. Box 4026
Fax: +970 8 2844487 | Fax | Tel: +970 8 2825713 | Tel