Regulatory Alerts2014-01-01
Circular No. 1 (2014) Disclosure of Court Decisions on the Credit Information System
The Palestine Monetary Authority issued Circular No. 1 (2014) to mandate the disclosure of banking-related court decisions to the Credit Information System as part of its 2014 system update. The circular requires all lending institutions operating in Palestine to instruct their legal advisors to ensure that defendants' identification numbers, full names, and addresses are explicitly included in all court filings. This standardized data collection enables the competent judicial authority to supply the central bank with court rulings that accurately meet the updated credit reporting requirements.
Palestine Monetary Authority
Palestine Monetary Authority
Circular No. 1 (2014)
To all lending institutions operating in Palestine
Date: Sunday, January 05, 2014
Subject: Disclosure of Court Decisions on the Credit Information System
Further to the Palestine Monetary Authority's plan to update the Credit Information System during 2014 by adding court decisions related to banking matters to the credit report, and after initiating the necessary coordination with the competent judicial authority, all lending institutions are requested to instruct their legal advisors to provide the following data:
1- National ID number / Passport number / Registration number. 2- Full four-part name. 3- Address of the defendant.
This information must be included in the court complaint filed against the defendant, so that the judicial authority can provide the Palestine Monetary Authority with court decisions in compliance with the Credit Information System requirements.
Public Relations and Market Services 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