Regulatory Alerts2014-01-01
Circular No. 193 Monthly Facilities File
The Palestine Monetary Authority issued Circular No. 193/2014 to mandate that all banks operating in Palestine reduce the allowable technical error lines in their monthly facilities file submissions from 25 to zero, effective January 1, 2015. This strict requirement aligns with the launch of Version III of the new credit information system to ensure the comprehensive and accurate reporting of borrower and guarantor data. Banks must exercise strict precision in data disclosure and fully resolve all file errors, as non-compliance will trigger regulatory enforcement measures.
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