Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Instructions No. (52) of 2017

Regarding the Amendment of Instructions No. (2012/11) on Appointment, Transfer, Disciplinary Procedures, and Resignation

Pursuant to the provisions of Law Decree No. (9) of 2010 on Banks, particularly Articles (28), (29), and (72) thereof,
and in accordance with the authorities vested in us,
and in the public interest,
we have issued the following Instructions:

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Article (1)

Key Executives

The text of clause (2) of the definition of Key Executives set forth in Instructions No. (2012/11) is replaced with the following:
"The First and Second Executive Officers of all departments and activities in the Bank."

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Article (2)

Rectification of Status

The Bank must provide the Palestine Monetary Authority with the names of all Key Executives who have not obtained the Authority's approval for their appointment in accordance with the provisions of Article (1) of these Instructions, as well as provide the Authority with all relevant documents concerning them in accordance with the provisions of Instructions No. (2012/11) on Appointment, Transfer, Disciplinary Procedures, and Resignation, within a maximum period of 5 working days from the date of issuance of these Instructions.

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Article (3)

Implementation and Enforcement

All competent authorities shall, each within their respective jurisdiction, implement the provisions of these Instructions, which shall apply from the date of their issuance.

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Issued in the city of Ramallah on Monday, dated 2017/04/10
corresponding to 13 Rajab 1438 AH

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Assistant Governor
for Financial Stability Affairs

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Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922 | Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487 | Email: info@pma.ps | www.pma.ps