Regulatory Alerts2017-01-01
Circular No. 258 Legal Entity Identifier (LEI)
The Palestine Monetary Authority issued Circular No. 258/2017 requiring all banks operating in Palestine to obtain a Legal Entity Identifier (LEI) for themselves and their corporate clients. This directive aims to align banking operations with international best practices and mitigate operational risks associated with global financial transactions. Banks are instructed to coordinate with relevant international bodies and develop action plans to ensure all entities involved in cross-border payments or investments are properly identified.
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