Regulatory Alerts2015-01-01
Circular No. 157: Accounts of Ministries and Public Institutions
The Palestine Monetary Authority, acting on a directive from the Ministry of Finance and Planning, issues Circular No. 157/2015 to enforce Article 14 of the Palestinian Financial Regulations regarding government account management. The circular mandates that all banks operating in Palestine must strictly prohibit the opening, modification, closure, or alteration of signatories for any accounts belonging to ministries, public institutions, or other executive entities without explicit written authorization from the Minister of Finance. Banks are required to immediately circulate and implement these restrictions across all operations to ensure full compliance with centralized financial controls.
Share