Regulatory Alerts2019-01-01
Circular No. 18: Disclosure of Data for Certain Private Sector Companies
The Palestine Monetary Authority issued Circular No. 18/2019 mandating the disclosure of customer data for two specific private sector entities, Mohammed Amin Furniture Company and Fajr Al-Quds for Loans and Financial Affairs, on the national Credit Information System. This directive, effective January 23, 2019, assigns unique identification codes to these companies to facilitate the reporting and exchange of client information. The measure aims to align with international credit information standards and mitigate credit and operational risks within the banking sector's lending portfolio.
Share