Regulatory Alerts2007-01-01
Circular No. 67 Pre-1967 Accounts
The Palestine Monetary Authority mandates that all banks operating in Palestine segregate pre-1967 customer account balances into a dedicated "unclaimed balances" account within their general ledger. Banks must continuously disclose these balances via Call Reports, apply mandatory reserve requirements to the deposits, and submit detailed currency-specific statements to the Authority. These statements must explicitly list customer names, account types, account numbers, and corresponding balances to ensure full regulatory oversight.
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