Regulatory Alerts2010-01-01
Circular No. 133 Leased Lines for the Banking Network
The Palestine Monetary Authority informs all operating banks that it will cease directly covering leased line costs and will instead charge these expenses directly to each bank's current account with the Authority, based on invoices received directly from the telecommunications provider. This billing adjustment replaces the Authority's multi-year subsidy of network leased lines and will be formally communicated to each institution. The new charging mechanism will take effect on January 1, 2011.
Palestine Monetary Authority
Palestine Monetary Authority
Circular No. (2010/133)
To all banks operating in Palestine
Date: Monday, December 20, 2010
Subject: Leased Lines for the Banking Network
Further to the Authority's assumption of the costs of leased lines for banks for banking network usage over several years, we wish to inform you that the cost of the leased line for each bank will be charged to its current account with us, in accordance with the invoice from the telecommunications company received directly from the company, and you will be officially notified thereof. Please note that the charging of costs to banks' accounts will take effect as of 01/01/2011.
Supervision and Inspection Department
Palestine Monetary Authority
Ramallah - Al Bireh P.O.Box 452 - Tel: 02-2409920 - Fax: 02-2409922
Gaza - P.O.Box 4026 - Tel: 08-2825713 - Fax: 08-2844487
E-mail: info@pma.ps
www.pma.ps
Ramallah - Al Bireh P.O.Box: 452 - Tel: 02-2409920 - Fax: 02-2409922
Gaza - P.O.Box: 4026 - Tel: 08-2825713 - Fax: 08-2844487